COVID-19 restrictions and operational update
Due to the ongoing COVID-19 outbreak, the Agenzia Dogane Monopoli (ADM) have suspended sales of LOTTOITALIA’s "10e Lotto" and "Millionday" games through its retail network effective from 31 March 2020. LOTTOITALIA’s “Lotto” game is also suspended.
All other restrictions previously communicated in our announcement dated 17 March 2020 remain in force.
There has been no material interruption to business continuity at our businesses.
We are working to drive online sales across all of our markets, including the introduction of digital products, which are being thoroughly tested in order to meet the highest standards of responsible gaming, and measures to promote our existing online and digital offerings. At the same time, we are continuing to evaluate savings and deferrals in our operating and capital expenses across our companies.
As of 31 March 2020, the cash balances of SAZKA Group a.s. and its 100%-owned subsidiaries are approximately €100m.
Earlier today OPAP S.A. published its FY 2019 results and a separate announcement evaluating the financial impact of COVID-19 - both announcements are available on OPAP’s website (https://investors.opap.gr/en).
Tomorrow (2 April 2020), at 2PM GMT, OPAP’s management board will hold a conference call to provide further details. The dial in details are as follows:
UK participants please dial +44 (0) 800 368 1063
Greek participants please dial +30 211 180 2000
US participants please dial + 1 516 447 5632
Other International please dial +44 (0) 203 0595 872
The conference call will be webcast and you can join via the following links: www.opap.gr/4Q19 or https://87399.themediaframe.eu/links/opap4Q19.html
Damian Cope, OPAP’s CEO, will step down from his position at the end of May 2020, when his four year term expires. Damian will continue to support OPAP as an Adviser to the Board and will also be working with SAZKA Group on development of further international opportunities.
Damian Cope commented: “Family commitments bring me back to the UK but I am delighted to stay involved with the company in the capacity of Advisor to the Board. Meanwhile, I am also excited to support SAZKA Group as they explore opportunities.“
Robert Chvatal, SAZKA Group’s CEO, reflected on Damian’s time at OPAP: “I have thoroughly enjoyed working with Damian. He has played a vital role in the modernisation of OPAP’s business and its strategy. During his tenure, Damian oversaw a huge rollout of VLTs and SSBTs across our retail network, which have proven to be a phenomenal success. While doing so, Damian built a high-performance management team that OPAP will benefit from for years to come. I speak on behalf of everyone at SAZKA Group when I thank Damian for the influential contributions he has made as CEO of OPAP.”
The Board of OPAP jointly with Damian Cope have started the succession planning process to identify internal and external candidates for the CEO position. The Board has retained a leading international executive search firm to assist in this process.
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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The information contained in this notice is for indicative purposes only. This notice may include forward-looking statements regarding certain of our plans and our current goals, intentions, beliefs and expectations concerning, among other things, our future results of operation, financial condition, liquidity, prospects, growth, strategies and the industries in which we operate. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as “may,” “could,” “should,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “assume,” “believe,” “plan,” “seek,” “continue,” “target,” “goal,” “would” or their negative variations or similar expressions identify forward looking statements. By their nature, forward-looking statements are inherently subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this notice. In addition, even if our results of operations, financial condition and liquidity and the development of the industries in which we operate are consistent with the forward-looking statements contained in this document, those past results or developments may not be indicative of results or developments in future periods.
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