Warsaw (Puls Biznesu) – The international operator wants to enter the Polish market. It is not the world’s giant but has ambitions and plans expansion.
Century Casinos Europe, the Austrian subsidiary of the international operator Century Casinos, is going to buy the Polish company G5, the owner of 33 percent in Casinos Poland. The Austrians are supposed to borrow USD 4.86m and pay USD 3.76m for the stake.
“We are excited over the possibility to come onto the Polish market and hope to have a success”, Peter Hoetzinger, Century Casinos CEO said.
“Casinos Poland should remain in the Polish hands”, Przemyslaw Tomaszewski, Casinos Poland CEO commented.
Peter Hoetzinger plans expansion and differentiation of Century Casinos sales. The company, listed on NASDAQ and in Vienna, had USD 37m of sales last year, or 4.7 percent more than a year earlier. The net income amounted to USD 5.16m. Mr Tomaszewski is not surprised with Century Casinos plans.
“Many companies have been interested in Casinos Poland, but so far nothing has been settled. Even if Century Casinos acquire one third of the company, not much will change probably because with such a stake they won’t be strong enough”, Przemyslaw Tomaszewski said.
PPL, Polish state-owned airport operator, the third owner of Casinos Poland (next to G5 and PLL LOT flag carrier), has a similar opinion.
“Selling one third of the company will not change anything. Key decisions will still be made with the consent of the three owners”, Artur Burak, PPL spokesman said.
Casinos Poland runs casinos in Warsaw, Krakow, Poznan, Wroclaw, Gdynia and Katowice. Century Casinos has over 100 casinos in twenty countries. The Polish antimonopoly authorities still have to approve of the transaction