CEO of Bankrupt Czech Lotto Sazka Caught Lying About Salary

Written by Alex N. on 2011-06-14 at 18:53
Czech gambling laws - GamingZion
The scandal in connection with Czech lottery operator Sazka is gaining momentum. The latest problem with the unluckiest lotto provider in history of mankind focuses on the dismissal of CEO Aleš Hušák. According to Czech Republic gambling news, Hušák refused to accept the official letter of dismissal in person and so it had to be sent via registered mail.

Hušák was fired after the Bankruptcy Administrator discovered that Hušák asked for and received his salary in advance only days before the company was declared bankrupt. Hušák previously swore in multiple interviews that he has been working without salary since the bankruptcy was declared in order to fix problems from the kindness of his heart.

Sazka operated in full compliance with Czech gambling laws and managed to lose $606 million in its seven years of running a lotto. It is difficult to imagine the level of incompetence it takes to lose over $90 million each year for 7 years in an industry that has a 95% profit margin on every lotto ticket sold. Subsequently the company was declared bankrupt and a court appointed Bankruptcy Administrator to try and save the lottery.

Sazka spokesperson, Lenka Angelika Tichá, had the following comments in regards to Hušák dismissal: “This contradicts the repeated public statements in the media in which Mr. Aleš Hušák declared that since the bankruptcy declaration he starts to ‘work for free’”.

She went on to say: “The Bankruptcy Administrator called [upon] Mr. Aleš Hušák, through the crisis team boss, that if he wants to give up his salary he shall do so by means of a document conforming with all legal requirements, or to refrain from false and misleading media statement.”

Mr. Aleš Hušák still occupies a position as the Chairman of the Board of Directors of Sazka. No official word has been given on if or when he will be relived of this duty. It really seems unnatural how he could manage to receive all benefits under his contract in advance, especially when the company was declared bankrupt. There was obviously a lack of transparency within the company.

The situation with Sazka is of particular interest to the Czech lawmakers, who are contemplating introducing changes to the country’s gambling regulations. Currently only online sportsbooks in Czech Republic are permitted to offer services to Czechs. However when Czechs are in the mood for some online casino action, they always find it at foreign-based online establishments.

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