SAZKA’s Third Quarter Reveals 66% GGR Rise

SAZKA’s financial results for the third quarter show a 66 percent year-on-year rise in consolidated gross gaming revenue to EUR 769 million. Operating consolidated EBITDA rose by 37 percent year-on-year to EUR 197 million.

Consolidated adjusted EBITDA, except such one-off products, rose year on year by 32 per cent to EUR 207 million. Consolidated after-tax profit decreased by 33 percent year-on-year to EUR 48 million, affected by the restructuring provisions of EUR 54 million at CASAG.

SAZKA noted that at the end of Q2, limitations affecting some of the company’s land-based enterprises, particularly in Greece, Italy and casinos in Austria and internationally, were lifted in H1 and sales of these enterprises recovered well in Q3.

In the Czech Republic and Austria, SAZKA’s land-based undertakings, which were not greatly affected by the H1 constraints, continued to perform well although online sales, which increased dramatically during the time most affected by COVID, generally remained at these higher levels.

The overwhelming majority of the company’s land-based POS companies in the Czech Republic, Austria and Italy remain open and continue to sell their goods. Most of the POSs in these areas are found in shops and other outlets that offer vital goods and services that remain open. These include snack shops, supermarkets and gas stations.

As well as casinos, SAZKA’s land-based company in Greece and Cyprus has been more affected by the ongoing lockdown and is currently closed.

The results of Q3 mean that consolidated gross gaming revenue rose by four percent year-on-year to EUR 1.421 million over the first nine months of the year. Consolidated operating EBITDA decreased year-on-year by 15 per cent to EUR 364m.

Consolidated adjusted EBITDA also decreased by 15 per cent year-on-year to EUR 375 million and continuing operations consolidated profit after tax decreased by 58 per cent year-on-year to EUR 90 million.

In July, the CASAG Supervisory Board approved a proposal to improve the cost structure of the Austrian casino sector with an ongoing plan and projected annual cost savings of approximately EUR 45 million by FY22.

OPAP purchased additional interests in Stoiximan Group’s Greek and Cypriot online gaming sector in Greece in July and November. OPAP now has a stake of 84.5 percent in SMGC.

KKCG and SAZKA Group reported in November that funds controlled by Apollo Global Management affiliates would invest EUR 500 million in a newly created holding company, which will become the owner of the SAZKA Group, valued at EUR 4.2 billion.

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.