Sazka trying to get emergency loan

The management of the ailing betting company Sazka is meeting with creditors and bank representatives to try to secure an emergency loan. The company has generated a debt of around 10 billion crowns, mainly related to the 2004 construction of Prague’s O2 Arena. Part of the debt, amounting to some 1.5 billion, was acquired by financier Radovan Vítek, who on Monday asked a court to start insolvency proceedings against the company.