emmo1980,
The engine you have is the old Victa gear start type and has a retangle type muffler.
Check the fuel flow from the tank to the carby (remove fuel line from carby by pushing it on then pull off).
Then check this:
What I would be doing first is remove the muffler and check for carbon build up in the exhaust port. If it has clean it out by making sure that the piston is blocking the port (so that no carbon goes into the cylinder).
Next try running the mower before putting the muffler back on and if all runs ok then replace the mufler.