Global casino operator Casinos Austria International has reportedly announced that it chalked up a record first-half loss of just over €10 million ($11.8 million) owing to issues surrounding the coronavirus pandemic.
According to a short report from G3Newswire, the Vienna-headquartered firm saw its overall revenues for the six months to the end of June drop by about 30.5% year-on-year to €52.8 million ($62.5 million) as its operations in Hungary, Germany, Switzerland, Denmark, Liechtenstein, Egypt, Australia and North Macedonia were seriously hurt by outbreaks of the potentially-lethal virus.
Casinos Austria International has a footprint in 35 countries and reportedly revealed that its ten venues in Germany generated some €30.1 million ($35.6 million) in aggregated first-half revenues for an associated profit of about €2.5 million ($2.9 million). The operator purportedly detailed that its Grand Casino Brussels Viage property in Belgium also had an acceptable six-month period as takings hit €10.6 million ($12.5 million) although this establishment’s related loss climbed to approximately €5.7 million ($6.7 million).
Established in 1977, Casinos Austria International reportedly moreover explained that its trio of casinos in Switzerland recorded first-half aggregated revenues of €6.8 million ($8 million) for a loss of €2.1 million ($2.4 million) while its four-strong operation in Denmark saw combined takings tumble to €6.2 million ($7.3 million) for a deficit of €716,000 ($847,760).
Similarly, the firm reportedly pronounced that its operations in Australia and Hungary both recorded half-year aggregated revenues of €4.3 million ($5 million) while its Casino Schaanwald venue in Liechtenstein saw takings hit €5.5 million ($6.5 million). Casinos Austria International purportedly furthermore clarified that its undertakings in other international markets racked up combined revenues of €4.5 million ($5.3 million) as its combined tax contribution fell by 36.7% year-on-year to €24.4 million ($28.8 million).
Reportedly read a statement from Casinos Austria International…
“The global economy contracted significantly, especially in the second quarter of 2020, due to the sometimes-drastic measures taken to contain coronavirus. While our gaming revenues in January and February were 11% higher than in the previous year, all casinos were shut in March of 2020. The management immediately took all measures to curb expenditures. Fortunately, good gaming revenues have been achieved in the first few weeks since re-opening.”