Gambling firms spin the wheel on Covid-19 response

roulette_Adobe_575x375_30July2020
By Owen Sanderson
12 Nov 2020

The Covid casino has produced winners and losers among Europe’s high yield gaming firms, with lottery firm Sazka securing a fat equity cheque from Apollo, while Codere has some worried that its restructuring, wrapped up in October, did too little to cut its debt burden.

Sazka announced on Wednesday morning that it had taken €500m of investment from Apollo Global Management, valuing it at €4.2bn, and leaving most of it in the hands of Czech billionaire Karel Komárek, through his investment vehicle KKCG.

The company owns the Czech national lottery and substantial stakes ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial