Austria's Novomatic has agreed to sell its 17.2 percent share of Casinos Austria to Czech lottery giant Sazka Group.
If the transaction closes as planned, Sazka will control about 55 percent of the Austrian lottery monopoly and casino operator, leaving the Austrian finance ministry with a 33 percent share, which it owns through its vehicle, ÖBAG. No purchase price was disclosed.
Casinos Austria runs the Austrian lottery and operates all 12 casinos in Austria, along with an international unit that operates 25 casinos in a dozen countries.
Novomatic and Sazka have frequently found themselves at odds over issues, including the make up of Casinos Austria's board that the two companies say has stymied the business.
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