Despite uncertain times in terms of ownership
Casinos Austria AG and Austrian Lotteries Group, the part-state owned entity currently the target of a partial takeover by Novomatic and Czech investment firm SAZKA Group, posted a record Euro 100.5 million (2014: Euro 69 million) almost doubling operating profit despite a decline in revenue to Euro 3.599 billion (2014: Euro 3.6 billion). Net profit came in at Euro 55.3 million for the year (2014: Euro 41.7 million).
The results are largely attributed to a strong performance from its twelve Austrian-based casinos who increased turnover by Euro 50 million and operating profit to almost Euro 21 million (2014: Euro 9 million), a rigid cost structure, the reduction of around 300 employees, new products and revamped properties.
"This is our best result ever achieved. All of our operations are in the black," said Karl Stoss, general director of Casinos Austria AG.
Casinos Austria's Euro 24 million refurb of its Austrian properties last year is paying off with a whopping Euro 56,000 spend per hour reported in its new VIP room in the Vienna Casino, Stoss revealed. Most of these "well-heeled guests" originate from the Asian and Arab world.
Online operations also proved lucrative as its Win2Day operation recorded 850,000 registered customers, with over a quarter of those now utilising its mobile platform. An all time high was achieved in terms of revenue which grew 10 percent to Euro 1.3 billion.
"We continue our success in 2016 with casino transactions already ten percent higher than last year," Stoss concluded.
Online Casino News Courtesy of Infopowa