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State Lottery Company Looks to Expand Abroad

MTI-Hungary Today 2021.03.04.

State-owned lottery company Szerencsejáték has the know-how and the capital to weigh an expansion abroad, CEO Gábor Czepek said in the latest issue of pro-government news weekly Figyelő.

Czepek said Szerencsejáték could consider entering the “less-risky” business of online sports betting on foreign markets that “have a culture similar to the market in Hungary”.

“That’s the short-term goal. If we successfully overcome the hurdles, we could mull operating a sales network abroad through a greenfield investment or through an acquisition, but that’s a more complicated task,” he added.

He told the weekly that Szerencsejáték targets a revenue increase of “more than 15 percent” this year, raising sales over 650 billion forints (EUR 1.9bn) from last year’s 574 billion.

Lottery Craze: Hungary's Ötöslottó Hits Largest Ever Amount with HUF 5,252 Billion
Lottery Craze: Hungary's Ötöslottó Hits Largest Ever Amount with HUF 5,252 Billion

Ötöslottó, Hungary’s lottery under the state-owned lottery company Szerencsejáték Zrt., in which five numbers have to be picked out of 90, is offering the largest jackpot ever this week. The jackpot will be 5,252 billion forints (EUR 15.5 million). Last week’s 5 billion forint jackpot was the third-largest amount ever, following 2003, (HUF 5,092 billion), and in 2015, […]Continue reading

He noted that last year’s revenue went up by 6 percent from a record revenue in 2019 and exceeded the target in the business plan.

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