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SAZKA Group: COVID-19 update

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SAZKA Group wishes to give an update to its stakeholders regarding the measures our companies and retail partners have taken with regard to the COVID-19 virus outbreak.

First and foremost, in order to protect the health and safety of our customers, employees, partners and the public, all our companies have fully complied with all the decisions and recommendations of the public authorities in the countries of their operations. We have successfully implemented contingency and business continuity plans with no significant impact to our business processes, and almost all our employees are currently working from home.

While all our digital channels continue to operate without interruption, our physical retail networks have adopted various measures to safeguard public health and the health of our employees.

We anticipate that these developments will impact our financial performance. The extent of the impact will depend on factors including the duration of the outbreak, how longer current restrictions remain in place, further measures taken by governments, and the extent of economic disruption.

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Robert Chvatal, CEO commented: “Management are working on mitigating steps to minimise the financial impact for our companies, our employees, and our partners. SAZKA Group is in daily contact with its local operating companies to coordinate timely response to the developments in individual markets.”

Below is a brief overview of the current situation in our markets:

Greece

On Friday 13 March 2020, the Greek government published its decision to impose a temporary ban on the operation of a wide range of shops, indoor venues and other locations. As a result, all of the OPAP stores and PLAY gaming halls in Greece will be closed for two weeks, from Saturday 14 March until Friday 27 March 2020 inclusive. The horseracing facility at Markopoulo Park will also be closed.

Consequently, during this period, the company’s gaming activities will only be operating through its online platforms, which offer sports betting and certain other lottery games, and via the street vendor network of Hellenic Lotteries, which offers scratch cards and passive lotteries.

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OPAP’s stores in Cyprus have been temporarily closed as of.

Austria

On Friday 13 March 2020, the Austrian government published its decision to impose a temporary ban on the operation of a wide range of shops, excluding those providing basic services such as food retail, pharmacies, post offices, banks, petrol stations and tobacco stores. The decision went into force on Monday 16 March 2020. The ban has so far had only a limited impact on the availability of Austrian lotteries products through its main retail channels, as more than 90% of all point-of-sales are excluded from the ban.

Austrian Lotteries’ online gaming activities remain available to the public during the entire period. They include draw based games (including Austrian Lotteries’ major products Lotto and Euromillions), instant scratch cards, online casino, poker, bingo and sports betting.

In coordination with the authorities, Casinos Austria has decided to close all its casinos in Austria and its subsidiary Austrian Lotteries has decided to close all its 19 gaming halls on March 13, 2020. The casinos and gaming halls will be closed at least until April 13, 2020. The Austrian government is introducing measures to support part time work, which may allow reduce Casinos Austria and Austrian Lotteries to reduce the financial impact of the closure

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Casinos Austria International, which operates casinos and VLT businesses in multiple countries, is closely monitoring the situation and acting in accordance with the instructions of local governmental bodies.

Czech Republic

As of Monday 16 March, the State Security Council of the Czech Republic has decided to severely limit free movement in the Czech Republic in order to limit the spread of the COVID-19 coronavirus epidemic. Citizens are allowed going to work and shop for supplies limited to food, vital supplies, fuel and medicine, as well as use of necessary financial and postal services. We estimate that 70% of SAZKA’s Czech retail network, including newsstands and post offices, continues providing their services to the public.

At the same time, we are actively promoting the use of online platforms for lottery products as well as digital-only offerings. In recent weeks we have seen a 25-30% increase in sales via digital channels compared to previous weeks.

Italy

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Most shops, restaurants and cafes in Italy are currently closed as a result of a number of recent measures. Tobacconists, which are a key channel for LOTTOITALIA, are allowed to remain open, however traffic has declined.

 

About SAZKA Group:

We are one of the largest pan-European lottery operators. Our businesses operate lotteries in all the major continental European countries where lotteries are privately operated, including the Czech Republic, Greece, Austria and Italy, and in Cyprus. Our businesses focus on the lottery segment, including numerical lotteries (draw-based games) and instant lotteries (scratch cards), and also provide complementary products, including sports-betting and digital-only games. They sell their products both through various retail networks and through digital platforms.

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Blake Sartini

Golden Entertainment Announces Leadership Changes

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Golden Entertainment Inc. announced that effective March 20, 2024, Blake Sartini II, Golden’s Executive Vice President of Operations, became the Company’s Chief Operating Officer.

“Blake has worked in every capacity throughout our organization since he started at Golden almost 17 years ago. His unique knowledge of our Company’s culture, commitment to operational excellence, and strong leadership skills make him the ideal individual to be given responsibility for all our Nevada casino resorts, locals properties, tavern operations and related corporate functions,” Blake Sartini, Chairman and CEO of Golden, said.

Blake Sartini II initially joined Golden in June 2007, working with Golden’s tavern operations and building what is now the largest branded tavern portfolio in Nevada with 69 locations. Currently, as Executive Vice President of Operations, in addition to oversight of Golden’s taverns, he has direct responsibility for the Company’s five local casinos in Las Vegas and Pahrump.

Steve Arcana, Golden’s current Chief Operating Officer, became the Company’s Chief Development Officer also effective March 20, 2024. In this newly created role, Mr. Arcana will be responsible for all new tavern development, finding new third-party food and beverage concepts for the Company’s casino resorts, and exploring opportunities to unlock value in the Company’s excess real estate in Las Vegas, Laughlin and Pahrump. Mr. Arcana initially joined Golden in 2003 and has overseen the Company’s operations as it has grown from a privately held, 900-slot machine route operation to a publicly traded gaming company with casinos in Las Vegas, Laughlin and Pahrump in addition to its significant tavern portfolio.

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“Steve has been with Golden for over 20 years and has been an integral part of growing our business and guiding us through many challenges. Steve has established a strong operating team and has been a consistent leader throughout his decades at Golden. His long history and extensive experience in the industry will continue to benefit the Company in his new role focused on creating value from new tavern development and unused assets in our casino portfolio,” Mr. Sartini said.

“These management changes will allow Golden to focus on maximizing performance in our core operations while exploring opportunities to drive future improvement by bringing potential new concepts to our existing portfolio. I am confident the changes to Blake and Steve’s roles with the Company will position us well to create additional shareholder value,” Mr. Sartini added.

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Barclays Capital Inc

MGM Resorts International Announces Proposed Senior Notes Offering

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MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032.

The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.

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The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024

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The Nomination Committee of Catena Media proposed re-election of the following members of the Board of Directors:

Øystein Engebretsen

Theodore Bergquist

Adam Krejcik

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Sean Hurley

The Nomination Committee proposed that Erik Flinck and Dan Castillo be elected as new members of the Board of Directors.

Göran Blomberg, Esther Teixeira-Boucher and Austin Malcomb have declined re-election as board members.

The Nomination Committee proposed that there will be six (6) members of the Board of Directors, changed from seven (7).

The Nomination Committee also proposed Erik Flinck to be elected as Chairman of the Board of Directors.

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Erik Flinck, born in 1980, currently provides high end business consulting combined with serving as Chairman for the digital health startup, dr HUD. Mr Flinck previously served as Head of BCG Sweden and has extensive experience from corporate management, growth and turnarounds from nearly 20 years of Management Consulting and serving as Head of Group Strategy and M&A at Sandvik AB. He has a Masters Degree in Engineering (Software development and Financial Mathematics) from the Royal Institute of Technology in Stockholm and a Masters Degree in Business and Administration from Stockholm University and Stockholm School of Business.

Born in 1980, Dan Castillo has accumulated over 20 years of experience across startups, growth companies and turnarounds. Since 2015, Castillo has invested in Catena Media, maintaining a close watch on its progression, especially after its IPO in 2016. He has previous experience of listed board work in Kotipizza which Orkla acquired in 2018. He currently serves on the boards of five companies in different sectors, including Quartr.com in Fintech and Hope Studios in movie production. His academic background includes studies in Finance and Economics at Linköping University.

The Nomination Committee of Catena Media consists of:

Nicklas Paulson, representing Investment AB Öresund (chair of the nomination committee)

Marianne Stenberg, representing Second Swedish National Pension Fund

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Martin Zetterlund, representing Niklas Karlsson

Göran Blomberg, chairman of the board of Catena Media.

The post The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024 appeared first on European Gaming Industry News.

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