Czech Gambling Group SAZKA Shelves London IPO Plans in Nightmare Week for LSE - W88club

Czech Gambling Group SAZKA Shelves London IPO Plans in Nightmare Week for LSE

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Czech Gambling Group SAZKA Shelves London IPO Plans in Nightmare Week for LSE

Category : News

Casino Boss Sheldon Adelson Buys $40-Million Penthouse in Tel Aviv’s Akirov Towers
Posted on Friday October 05, 2018

The Las Vegas casino boss owns one more apartment in the locally popular residential towers US casino mogul Sheldon Adelson has increased his real estate portfolio with the recent purchase of a penthouse in one of the Akirov Towers in Tel Aviv, local financial news outlet the Globes reports. Mr. Adelson has reportedly paid $40

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Carl Brewington Takes Down WSOP Circuit Horseshoe Southern Indiana $400 No-Limit Hold’em Monster Stack
Posted on Friday October 05, 2018

Poker pro dedicates his first WSOP Circuit title to his late father Carl Brewington had a killer run at Horseshoe Southern Indiana over the past two days. The poker pro from Nashville, Tennessee was eventually rewarded with his first WSOP Circuit gold ring for outwitting the 417 entries of the $400 No-Limit Hold’em Monster Stack.

The post Carl Brewington Takes Down WSOP Circuit Horseshoe Southern Indiana $400 No-Limit Hold’em Monster Stack appeared first on W88club.

A nightmare week for the London Stock Exchange continues as SAZKA Group puts listing on ice due to market volatility
Czech lottery and betting operator SAZKA Group has iced plans to float on the London Stock Exchange, citing market’s volatility as the reason behind its decision. The announcement arrived as the latest of a round of bad news for the stock exchange.
SAZKA first announced its flotation intentions last fall. The group hired Citigroup, Morgan Stanley, and J.P. Morgan Cazenove as global coordinators. The company reportedly planned to use its London listing to spearhead its bid for UK’s National Lottery license. Local lottery group Camelot currently holds said license, but it is set to change hands in 2023. The UK Gambling Commission is expected to commence preparations for the bidding process at some point in 2019.
SAZKA said in a statement to the Press Association that the “volatile market environment” and a number of other uncertainties were the reasons behind its decision to put its London flotation on hold. News about SAZKA’s IPO derailing emerged just as Aston Martin marked a horrific debut in London, closing nearly £1 below its float price on its first day on the London Stock Exchange.
The Czech lottery group added in its statement that IPO plans could be revived once market conditions improve and “there is greater clarity over these and other uncertainties”.
SAZKA was not the only major European gambling company to have recently considered London listing. UK online sports betting giant Sky Betting & Gaming indicated such plans early this year. However, it had to shelve these as it agreed to be acquired by Canada’s The Stars Group in April. The deal is set to create the largest publicly traded online gambling company.
Growth through Major Acquisitions
SAZKA is one of Europe’s biggest gambling groups. Companies the group owns stakes in annually take more than €16 billion in bets, according to official financial statistics. Aside from its domestic Czech market, SAZKA also operates in Italy, Austria, Croatia, Greece, and Cyprus.
Most recently, the company acquired a controlling stake in Croatia’s largest land-based and online sports betting operator SuperSport. The deal included the possibility for the Czech group to increase its shareholding to 100% in the coming years. Earlier this year, SAZKA also extended its shareholding in Casinos Austria to 34% through a subsidiary.
In 2016, the Czech gambling group purchased a 32.5% stake in Italian lottery operator Lottoitalia. In addition, SAZKA also owns a 72% stake in a fund that owns a controlling stake in Greek betting and lottery giant OPAP.
Group CEO Robert Chvatal has previously said that the Czech group has been considering different options to support its growth in future, and an IPO, product innovations, customer experience in the online sector and geographical expansion have been among the options considered.
SAZKA recorded revenue growth of 177% last year as a result from the consolidation of OPAP’s operations. The company reported revenue of €1.13 billion for the entire 2017, while earnings rose 165% to €353.4 million and after-tax profit jumped 105% to €189.5 million.
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Mohammed Nuwwarah Takes Down WSOP Circuit Horseshoe Hammond $600 H.O.R.S.E.
Posted on Wednesday October 17, 2018

Nuwwarah captures debut WSOP Circuit title on his 32nd birthday Mohammed Nuwwarah, an Omaha, Nebraska resident with solid poker background, won last night the $600 buy-in H.O.R.S.E. that played as part of the ongoing WSOP Circuit Horseshoe Hammond series. The player captured a gold ring and a cash prize of $14,008 after besting 95 like-minded

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Israeli Court Blocks Naughty 1xBet, Two Other Gambling Websites
Posted on Wednesday October 17, 2018

Russian online gambling operator 1xBet among those to face block by Israeli authorities A Tel Aviv District Court judge ruled earlier this week that three gambling websites targeting Israeli customers should be blocked. The ruling arrived after the cybersecurity unit of Israel’s State Attorney’s office requested action from a district court as part of a

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Tropicana and Hard Rock Casinos Seek Approval to Commence Sports Betting Operations
Posted on Wednesday October 17, 2018

Tropicana and Hard Rock to soon hop into the New Jersey sports betting mix New Jersey’s sports betting market is set to soon expand as two Atlantic City casinos have submitted petitions with the state Division of Gaming Enforcement (NJDGE) to commence wagering operations. According to documents made available by the New Jersey gambling regulator,

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