Coronavirus: Sazka Group reports significant Q1 falls
Sazka Group has reported a decline in gross gaming revenue (GGR) of 11% year-on-year for Q1 2020, primarily as a result of the coronavirus pandemic.
GGR fell to €405m ($457.7m), while net gaming margin dropped 16% to €266.8m. Both operating and adjusted EBITDA declined 23%, down to €125.5m and €117m respectively.
There was also a drop in profit, with profit before tax down 46% to €61.5m and profit from continuing operations decreasing 51% to €42.6m.
The Czech Republic-based operator attributed the drop in Q1 revenue and profit to the impact of COVID-19 on the group’s land-based retail operations.
However, the group’s online channels and digital-only games have performed strongly, as more customers move to online play; pre-COVID, the quarter saw operating EBITDA for digital-only games grow 78% to €7m.
In May, Sazka’s retail stores and products resumed operations in the Czech Republic, Greece, Austria and Italy.
Robert Chvatal, Sazka Group CEO, said: “I am extremely proud of the resilience our businesses have shown and I would like to thank the entire SAZKA Group team for their hard work and perseverance, and for seizing opportunities to progress our strategic priorities; during a period which has on a personal level been very difficult for many of us.”
In April, Sazka reported a 6% rise in full-year GGR for 2019, to €1.91bn.
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