AGH bought CAME from DONAU Versicherung AG member of Vienna Insurance Group. The signing already took place on 9 September 2015. With the closing AGH holds an indirect share of 11.34% in Casinos Austria AG (CASAG) Austria’s largest gaming and lottery company.
All conditions precedent determined in the contract with Donau Versicherung were fulfilled, notably the transaction was approved effective from 17 October 2015 by the Austrian Antimonopoly Authority (Bundeswettbewerbsbehörde, BWB).
Casinos Austria AG is a leading national and international gaming company with consolidated revenues of over EUR 3.6 billion in 2014, operating in numerous locations in Austria and other countries. CASAG owns 68% of Österreichische Lotterien Gesellschaft m.b.H., which is the monopoly operator of lottery games in Austria with 2014 revenues over EUR 1.3 billion.
“Lottery and gaming is one of strategic pillars of our business and this move is in line with KKCG’s strategy of building a large diversified European gaming group,“ said Štěpán Dlouhý, investment director of KKCG, adding that KKCG considers the acquisition of CAME a strategic long-term investment with the plan to sustainably develop the gaming and lottery business jointly with other shareholders and Austrian partners with a strong focus on responsible gaming and corporate social responsibility.
“We are pleased that, after our original reviews, the Austrian antimonopoly authority has now approved the sale. As is already known, the best offer among all bidders was an equally important criterion for our acceptance of the bid of the consortium“, said Prof. Elisabeth Stadler, CEO of Donau Versicherung AG Vienna Insurance Group. “Our understanding is that the consortium partners, who have experience in the gaming business, will also implement the concept we presented. This includes measures to secure the location, which in our opinion have to be considered very positive, and plans to expand business in Austria. These factors had an additional influence on our decision. We wish the consortium a lot of success for the next steps.”
KKCG is an international investment group managing approx. EUR 1.6bn of assets and employing more than 3,000 people. KKCG is focused on long-term strategic investments in lottery & entertainment, oil & gas, technology, tourism, real estate, machinery as well as other industries. KKCG operates in 10 different countries worldwide.
EMMA CAPITAL is an investment group focused on international markets. It intends to concentrate its activities primarily on the retail sphere; the usual strategy followed by the companies associated in the EMMA Group is that of an active involvement in the management of the companies in which EMMA has invested. The EMMA Group emerged in 2012 on the initiative of its sole shareholder, Jiří Šmejc.