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4-Traders Homepage  >  Equities  >  Athens Stock Exchange  >  Greek Organisation of Football Prognostics SA    OPAP   GRS419003009

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Greek Organisation of Football Prognostics : Lottery operator Sazka Group considers London share listing

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11/10/2017 | 03:59pm CET

Czech-based lottery and gaming operator Sazka Group said it is looking at an initial public offering in London to help fund growth in Europe.

The group, owned by Czech investors Karel Komarek's KKCG group and Jiri Smejc's EMMA Capital, has become one of Europe's biggest betting operators after acquisitions in recent years.

The group said on Friday it had hired Citigroup, J.P. Morgan Cazenove and Morgan Stanley as joint global coordinators but has not made a final decision on an IPO.

"We are evaluating several options to support our growth, including an initial public offering," Chief Executive Robert Chvatal said in a statement.

Sazka group companies take in bets worth over 16 billion euros ($18.6 billion) annually, the group said, with 62,000 sales points. As well as the Czech Republic, the group operates in Austria, Cyprus and Italy and said it aims to enter new markets in Europe.

"We believe in future growth via product innovations, customer experience in online as well as, when available, via further geographical expansion," Chvatal said.

Sazka Group did not give any details on a timeframe for a potential IPO.

It has a 72 percent stake in a fund that has a controlling 33 percent stake in Greek betting firm OPAP (>> Greek Organisation of Football Prognostics SA), acquired in Greece's first major privatisation in 2013 under an international bailout deal.

Sazka Group was derived from the former Czech lottery monopoly Sazka. Smejc's EMMA holds 25 percent of the Sazka Group and KKCG the rest.

In 2016, it bought a 32.5 percent stake in Lottoitalia, a joint venture with then Italian lottery monopoly Lottomatica.

In Austria, Sazka has agreed to acquire an indirect 34 percent stake in Casinos Austria, still pending regulatory approvals, according to its website.

($1 = 0.8579 euros)

(Reporting by Jason Hovet and Jan Lopatka; Editing by Susan Fenton)

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Financials (€)
Sales 2017 1 450 M
EBIT 2017 240 M
Net income 2017 156 M
Debt 2017 266 M
Yield 2017 6,31%
P/E ratio 2017 20,58
P/E ratio 2018 16,84
EV / Sales 2017 2,39x
EV / Sales 2018 2,09x
Capitalization 3 200 M
Chart GREEK ORGANISATION OF FOOT
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Technical analysis trends GREEK ORGANISATION OF FOOT
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 10,8 €
Spread / Average Target 7,4%
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Managers
NameTitle
Damian Cope Chief Executive Officer & Executive Director
Kamil Ziegler Executive Chairman
Michal Miroslav Houst Chief Financial Officer & Executive Director
Konstantin Periklovich Yanakov Non-Executive Director
Spyridon Panagiotis Fokas First Vice Chairman
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