To focus on domestic operations
Casinos Austria sells international assets
2017-08-28
Reading time 39 seg
On Friday, Belgian media reported the firm’s intention to sell off all the non-Austrian holdings of Casinos Austria International, including 27 land-based casinos in 11 countries, six cruise casinos, online gaming operations and a video lottery terminal subsidiary in Macedonia.
Spokesman Martin Himmelbauer confirmed the veracity of the report, stating the time felt right for the company to make such a move, given the international division’s return to profitability.
““Casinos Austria posted an impressive turnaround in H1-2017 in its recent financial reportage.
”
The improved results were driven by strong performance from its Canadian, Belgian and German subsidiaries following extensive restructuring activity.
““Profits were up 34%t y-o-y at EUR 5.1M and net profit reached EUR 1.28M (H1-2016: loss of EUR 1.17M).
”
The move will allow the company to focus on the Austrian-based business, which includes the Win2Day online division, the online and land sports betting enterprise Tipp3, Austrian Lotteries, and the WinWin chain of video lottery terminal facilities.
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