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Czech lottery operator Sazka dismisses insolvency claims

20th January 2011 11:26 am GMT

Czech lottery and gaming operator Sazka AS has dismissed reports that it is in financial trouble after one of its main creditors filed insolvency proceedings against the company, saying that the action is only designed to cause panic and reduce the value of its bonds, obligations and shares.

Insolvency proceedings were filed earlier this week against the company by Czech firm Moranda A.S via one of Sazka’s main creditors, Radovan Vitek, at Prague’s Municipal Court.

In a [...]

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