Sazka Group reports 30% increase in Q1 gaming revenue

By Gambling Insider

In its Q1 2021 report, Sazka Group has reported a 30% increase in gross gaming revenue (GGR) to €283m ($342.8m).

The improved GGR came as a result of CASAG and Stoiximan performing strongly and outweighing the impact of Covid-19 restrictions across Europe. If you remove the two from GGR, however, it decreases by 59% to just €167m.

Revenue from non-gaming activities went down slightly from €28m to €27m, although operating income from other areas increased by 577% to €82m.

Operating EBITDA increased 20% to €133m, while adjusted EBITDA had a slight incline of 4% to €144.4m

During the start of the quarter, on January 27 the group acquired a 4.31% shareholding in Casinos Austria AG; it also increased its direct shareholding in OPAP by 0.99%.

Sazka Group further drew €80m from its revolving credit facility, with the remaining capacity now at €110m.

The company says the pandemic did not have a huge effect on its operations as all of Sazka’s digital channels managed to operate without interruption.

After restrictions in the first half of 2020, some retail areas resumed full activity by the third quarter of 2020.

But this was cut short as, towards the end of the year, some retail networks faced new restrictions. Some, though, managed to operate regardless of new measures being introduced.

So far, in Q2 2021 the group has further increased its direct shareholding in OPAP to 11.65% and on April 30, LottoItalia declared a distribution of premium reserve of €47m, giving Sazka a share of €15m in May.

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