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Czech Lotteries

SAZKA, formed in 1956, was until May 2011 the main lottery provider in the Czech Republic. It was also one of the largest bookmakers for sports betting. In terms of central lottery systems with interactive video lottery terminals, the competition is growing. Besides SAZKA, whose license was suspended due to nonpayment of winnings, other companies have been granted licenses by the Ministry of Finance to operate similar systems.

In March 2011, SAZKA filed for bankruptcy. The company was declared insolvent by the courts, with its outstanding debt approximated to be CZK 41.1 billion. The company's license was suspended in May 2011. KKCG investment group bought out SAZKA and continued its operation, adding sports betting and payment services to its list of products.
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