SAZKA Q2 revenue up 200% year-on-year

    0
    14

    SAZKA Q2 revenue up 200% year-on-year

    SAZKA Group has reported gross gaming revenue (GGR) of €740.1m ($875.50m) for the second quarter of 2021, a 200% year-on-year increase.

    Adjusted EBITDA grew by 343% to €252.7m, with profit after tax increasing by 706% to €141.9m.

    For the six months ending 30 June 2021, GGR increased by 94% year-on-year to €1,266.4m. Adjusted EBITDA grew 97% to €397.1m, with profit after tax increasing by 322% to €177.1m.

    Also in the trading update, SAZKA said that online sales had significantly increased during 2020, and have continued to grow strongly in all markets. The group’s Austrian Lotteries, and its Czech Republic and Italian businesses, continue to trade well, with its Greece physical retail, Austrian and international casinos now operating without material restrictions.

    Such businesses are also expecting to see a “substantial positive impact on profitability and cashflow generation” from the GGR tax repayment in Greece, and the restructuring of the Austrian casinos.
    Commenting further on the pandemic, SAZKA noted: “Assuming no new restrictions, Q3 will be the first quarter since Q4 2019 with no material Covid impact on any of our businesses.”

    The company also noted that GGR is similar to 2019 levels, but “slightly better than the recovery in Q3 2019 when most restrictions were also lifted.”