Senior managers at the company that recently won a license to run the National Lottery got a nearly 40 percent pay raise last year.
The bosses of the Czech-owned Sazka Group, whose Allwyn subsidiary beat out longtime incumbent Camelot to take the Lotto contract, got £10.3m between them in 2021.
The 6-person board pocketed £4.4m, while the so-called C-suite, comprising seven managers whose titles begin with ‘chief’, pocketed £5.9m.
The total exceeded £7.4m from the previous year. The extraordinary payment was awarded in a year in which Allwyn won the next 10-year Lotto contract from 2024, beating the likes of Camelot, Italy’s Sisal and media mogul Richard Desmond.
Earnings for Sazka, which runs lottery operations in Austria, the Czech Republic, Greece, Cyprus and Italy, more than doubled to £495m.
The company’s annual report also set out how it plans to invest £329m in Allwyn to fund day-to-day expenses and £57m for the company to invest in its operations.
Sazka is backed by Czech billionaire Karel Komarek and private equity giant Apollo Global. They are planning to list the European gambling company in New York through the acquisition company Cohn Robbins Holdings, created by former Donald Trump adviser Gary Cohn.
In his race to win the Lotto contract, Allwyn hired the great British businessmen Sir Keith Mills, who spearheaded London’s successful bid to host the 2012 Olympics and invented the Nectar Card loyalty scheme, and Justin King, the former boss from Sainsbury’s. Sazka did not disclose how much each individual executive and director was paid. Mills and King’s salaries were not included in the £10.3m total.