Apollo Global Management is investing the significant amount of €500m (£448.1m/$591.8m) into Sazka Group
Alternative investment manager firm Apollo Global Management is investing €500m in Sazka Group by forming a new company called Sazka Entertainment.
Sazka runs lottery businesses in the Czech Republic, Greece, Cyprus, Austria and Italy, and further owns Casinos Austria and a 40 per cent share in Greek operator OPAP.
A company speaker said it will use the investment to ‘capitalise on acquisition and growth opportunities in Europe and North America, with a focus on lotteries.’
Karel Komárek(pictured), founder Chairman of the Board of Sazka Group, explained: “Our business is entering a new era and this investment and strategic partnership will support our long-term expansion plans. I am happy that, after a series of discussions with major investment funds from around the world, we came to an agreement to partner with Apollo. I believe the interest in Sazka Group from one of the world’s leading investors in gaming and largest alternative investment managers and globally confirms the value and strategy of Sazka Group, and is an endorsement of the excellent work of the entire Sazka Group management team.
“In partnership with a strong US investor, Sazka Group is well positioned to expand in Europe, the US and other potential regions, continuing to focus on lottery and complementary gaming verticals. I am convinced that the gaming industry is one of the most promising sectors for the future and Sazka Group aspires to be a global player in this sphere. I have absolute confidence that with support from Apollo my team will take the business to the next level.”
James Kim, Apollo Partner added: “We are very excited to invest in SAZKA Group, one of Europe’s leading private lottery operators. The company has a very successful track record of organic and inorganic growth and we believe this investment, coupled with our sector expertise and relationships, will help the management team achieve their strategic growth plans in Europe and around the globe.”
After the transaction Sazka Entertainment was valued at €4.2bn.
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