Casinos Austria International Reports €10m Loss

Casinos Austria International (CAI), an international subsidiary of Casinos Austria, has reported a loss of €10 million following a year on year revenue loss of €52.8 million owing to Covid-19 pandemic.

“The global economy contracted significantly, especially in the second quarter of 2020, due to the sometimes drastic measures taken to contain the coronavirus,” the operator said. “The land-based gaming industry is one of the industries most severely affected.

“While the Casinos Austria International Group’s gaming revenues in January and February 2020 were 11% higher than in the previous year, all casinos had to shut down in March 2020. The management immediately took all measures to curb [expenditure].”

Casinos Austria International has reopened casinos after Corona-induced lockdown in Germany, Hungary, Switzerland, Liechtenstein, Denmark, North Macedonia, Australia and Egypt.  The company certainly foresees a good turnaround of fortunes.

“Fortunately, good gaming revenues have been achieved in the first few weeks since the opening,” the operator said.