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Casinos Austria group Revenues Declining
Thursday, April 9, 2015 : ONLINE SALES DECLINE AT CASINOS AUSTRIA
2014 was the first time in years that performance at Win2Day slowed.
The Casinos Austria group, which has enjoyed a stellar performance from its online subsidiary Win2Day for years, has reported that 2014 revenues from the operation declined for the first time due to growing competition and a decline in online poker activity in Europe.
Turnover at Win2Day shrank by 1.6 percent year-on-year to Euro 1.18 billion, reported CEO Karl Stoss.
The land and online Casinos Austria group overall reported a net profit of Euro 41.7 million in 2014, a commendable turnaround on the Euro 16.3 million loss recorded in 2013.
Casinos Austria’s online gambling assets may generate the biggest revenue, but the strongest earnings were created by the group's traditional lottery business, which climbed to Euro 586 million.
The company's gaming arcades business grew, hiking revenues by 15 percent y-o-y to Euro 635 million, whilst sports betting subsidiary Tipp3 contributed growing revenues of Euro 50 million.
The group continued to struggle in foreign markets, resulting in cost-cutting measures and some closures.
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