Industry News

Karel Komarek Revives IPO Plan for Sazka Group

Published

4 years ago

July 12, 2021

Niji Narayan

Karel Komarek Revives IPO Plan for Sazka Group

Reading Time: < 1 minute

Czech billionaire Karel Komarek is reviving plans for an initial public offering of Sazka Group, the European gambling company backed by Apollo Global Management Inc.

Komarek’s holding company KKCG Group AS is working with advisers on an IPO of Sazka that could take place as early as the second half of this year. The listing of Sazka on the London Stock Exchange is under discussion.

Prague-based Sazka runs lotteries in European countries including the Czech Republic, Greece, Austria, Italy and Cyprus. Customers placed 6.8 billion euros ($8 billion) of bets last year through the company’s national lotteries, instant scratch-card games, sports wagering and online betting businesses, according to its annual report.

Komarek has an estimated net worth of about $3 billion, according to the Bloomberg Billionaires Index. Sazka reported 538.1 million euros of adjusted earnings before interest, taxes, depreciation and amortisation last year.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.