Central Europe

Casinos Austria International Reports €10m Loss

Published

5 years ago

September 2, 2020

Zoltan Tundik

Photo by M. B. M. on Unsplash

Reading Time: < 1 minute

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.

Related Topics:Casinos Austria International Group land-based gaming industry

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Zoltan Tundik

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.