BUSINESS BRIEFS

Czech lottery firm Tipsport enters Slovak market

TIPSPORT, the biggest lottery company in the Czech Republic specialising in odds betting, is entering the Slovak market.

The Czech company has bought a 100-percent stake in Slovak firm DOXX-SK, which operates odds betting in Slovakia. The company will be renamed to Tipsport SK and simultaneously separated from the DOXX Group following the new owner's entry on August 1 of this year, according to information published by the company.

Tipsport CEO Petr Knybel told SITA the integration process will take several months. At the moment the firm is still analysing the venture. However, the company should complete most of the integration process by September of next year, he said.

Tipsport in the Czech Republic was founded in 1991 and currently controls about 45 percent of the Czech odds betting market that it runs out of 1,030 branches. By entering Slovakia, Tipsport continues its expansion out of the Czech territory. The company began operations in Poland three months ago, where Tipsport PL started by merging with former betting agency MEGA-TYP.

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