home casinos play poker play bingo play instant win games gambling news archive forums
- -
Bookmark current page
→ casino
→ online casino
→ online poker
→ poker
  Recommended Sites
  Featured Partner
Gambling Articles
Gambling Experts
News Archive
Contact Us
Bingo Aff Program Gambling News Archive

Sazka declared insolvent

A meeting for creditors of the troubled Czech lottery firm has been set for 26 May.

Wednesday 30th March 2011

Czech lottery operator Sazka SA has been declared insolvent after a hearing at Prague’s Municipal Court yesterday. The court has set a meeting for the firm’s main creditors for 26 May and now has three months to approve a restructuring plan or sell off Sazka’s assets. Creditors have been given 30 days to stake their claims. Sazka ran into financial trouble after constructing a 17,000-seat arena for the 2004 Men's Ice Hockey Championships and currently is in the red to the tune of $606 million, the majority consisting of bonds. Sazka described the move as “a logical step” and despite the ruling said it is still taking bets and paying out prizes.

Source: OnlineCasinoNews

  • Back to archive index
  • Submit a press release

    Discuss this story in the Gambling Forum. Last 5 Posts:
    Sunday 26th February, 2017:   Horse Race betting
    Friday 24th February, 2017:   Poker Websites
    Thursday 23rd February, 2017:   UEFA Europa League
    Wednesday 22nd February, 2017:   UEFA Champione Leugue
    Wednesday 22nd February, 2017:   Hi - How to make good money online!