Novomatic And Sazka Partner To Take Over Casinos Austria
By Casinomeister, Last updated Mar 4, 2016
But existing legal disputes still to be dealt with
Novomatic and Sazka Group, who represents Czech investment groups KKCG and EMMA CAPITAL, have agreed to join forces in a long-term strategic partnership of equals that will see their respective shares in Casinos Austria AG and Austrian Lotteries — already acquired or to be acquired — pooled into a joint-venture company.
The agreement, which complies with a request from the Austrian Finance Minister to settle disputes for the benefit of Casinos Austria, still hinges on the settlement of existing legal disputes between Sazka Group and MTB Privatstiftung as well as Medial Beteiligungs GmbH, followed by the attainment of approvals from anti-trust and supervisory authorities.
The joint venture will provide the company strong and stable shareholders, a press statement reads, who will use their vast gaming experience to further expand the Austrian Lotteries and Casinos Austria businesses.
Online Casino News Courtesy of Infopowa
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
bryan@casinomeister.com
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