Austria Casinos Austria International up 17.6 per cent in first half of 2018

in Finance

Casinos Austria International has reported significant earnings improvements in the first half of 2018. The 100 per cent subsidiary of Casinos Austria generated double-digit increases in all its relevant key figures for the first six months.

Turnover for the total of 30 operations (29 casinos, including three casinos on luxury cruise ships and a video lottery subsidiary) increased by 17.6 per cent to €72.94m, with operating profit of €5.78m equivalent This was up by 13.9 per cent or €2.44m compared to the same period last year.

CAI said that the main drivers of this ‘very pleasing half – year balance sheet’ were the very successful new casino in Schaanwald, Liechtenstein, which contributed an operating profit of €1.7m in the first year, improvements at Spielbanken Niedersachsen with a profit increase of €2.02m, and Belgium, which profit was up by €0.37m. Profit at the group’s casinos in Switzerland were up €0.55m and Hungary, up €0.3m. The video lottery business in Macedonia is also developing very well, with the number of terminals expanding from 1,022 to 1,256 in the first half of the year, with a total of 3,000 machines in operation by the end of 2018.

Casinos Austria General Manager Alexander Labak: “After a detailed evaluation at the beginning of April 2018, we decided to continue on our own with Casinos Austria International with an active and clear strategic orientation. The figures show that this bears fruit and we are also optimistic about future developments. Thank you very much to the entire team of Casinos Austria International for the great effort. ”

http://g3newswire.com/austria-casinos-austria-international-up-17-6-per-cent-in-first-half-of-2018/