Sazka Group posts healthy revenue and profit rises for 2019


Sazka Group posts healthy revenue and profit rises for 2019

By Iqbal Johal

Revenue for Sazka Group has increased 6% year-on-year for 2019, while profit also showed a 35% rise.

Gross gaming revenue (GGR) through 31 December rose to €1.91bn ($2.09bn), with net gaming revenue also up 6% to €1.31bn.

Profit from continuing operations showed a healthy increase to €311m, while EBITDA also rose, up 17% to €592m.

The Czech Republic-based operator attributed the increase in revenue and profit to a growth in digital games and instant lotteries.

Sazka Group also stated the coronavirus pandemic hasn’t led to a material interruption to business continuity, although it has had an ongoing impact on operations.

The organisation says it has taken measures to maximise liquidity given the current climate and, as of 31 March, its cash balance including its 100%-owned subsidiaries was approximately €100m.

For 2020, year-to-date GGR is still in line with the budget set before the outbreak in Czech Republic, with strong digital performance compensating for retail.

With certain business allowed to reopen in Czech Republic from 20 April, the group expects its retail business to operate at 95% capacity, up from 70% in recent weeks.

Sazka Group CEO, Robert Chvatal, said: «2019 was another very strong year for the group. Apart from the outstanding organic growth and increased profitability across all our markets, we have taken a number of important strategic steps.

«There is now a clear trend for a relaxation of restrictions and we are actively preparing to take advantages of the opportunities this will bring.»