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Sazka shuts down VLT operations to reduce losses

16th June 2011 9:30 am GMT

Sazka’s insolvency administrator Josef Cupka has terminated the video lottery terminal (VLT) operations of the Czech lottery operator after the business ran up losses of CZK467m (€19.3m) since its launch seven years ago.

Cupka said that the termination was undertaken under Section 253 of the Insolvency Act to determine which contracts should be retained and which should be withdrawn.

Sazka’s Starport VLT business, provided by CVT Technology, was launched in 2004 as part of an expansion of [...]

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