Casinos Austria and Austrian Lotteries Group Secures 4.5 Per Cent Revenue Increase Compared to 2022

March 24, 2024 | Reveue

AUSTRIA – March 22, 2024 — Casinos Austria and the Austrian Lotteries Group generated consolidated gross gaming revenue of €1.48bn in 2023, marking an increase of 4.5 per cent compared to 2022.

Despite what the operator said was ‘a highly challenging economic environment, successful and positive developments were achieved in terms of net result, tax performance and gross gaming revenues.’ Net profit rose by 18.4 per cent to €182.89m, while gambling tax came in at amounted to €612m, up 2.37 per cent.

CEO Erwin van Lambaart and CFO Martin Škopek of the Casinos Austria and Austrian Lotteries Group presented the annual financial statements for 2023 at a Supervisory Board meeting.

This positive development clearly shows that the Group’s products and services are well received on the market. The strategic realignment of casinos in Austria, which was systematically continued in 2023, had a positive impact. Austrian Lotteries, and in particular online gaming on the win2day website, continues to develop in a positive direction. This shows that the channelling towards the only licensed online gaming in Austria on is working successfully. Increases in the number of guests and in gross gaming revenue were also recorded in the international business area in 2023. The WINWIN subsidiary also increased its gross gaming revenue by 3.3 per cent over 2022. Sports betting provider tipp3, which is 56 percent owned by Austrian Lotteries, performed well against national and international betting providers in a normal year for the sports industry without a major football event. It is just below the previous year’s level, with a 2.7 percent decline in gross gaming revenue compared to 2022.

Still, the effects of high inflation and economic uncertainty among consumers due to geopolitical events (e.g. war in Ukraine and war in the Middle East) were also felt more clearly over the course of 2023.

With over 724m in taxes and duties, the Group continues to be one of the largest taxpayers in the country, making Austria the biggest winner of a responsible, legal range of gaming offers.

CEO Erwin van Lambaart said: “Looking back on the past financial year makes me proud: the Casinos Austria and Austrian Lotteries Group has once again achieved a positive result while also making a significant contribution to the federal budget. This outcome also serves as a valuable confirmation from the industry of our corporate strategy to focus even more on our shareholder value and the experiences we offer our guests and customers, especially in the post-Covid period. As a Group, we want to continue to prove that we put people at the centre of everything we do. This applies to us offering a secure gaming experience, our strong commitment to society and, of course, in particular to all of our activities, which are carried out with great responsibility.”

“Despite a challenging economic environment in recent years, we’ve also managed to be commercially successful with our entertainment programme in 2023. Thanks to the commitment and expertise of our employees, the path of reorganisation and innovation that we’ve successfully embarked on is paying off, which means we’re well-equipped for all upcoming challenges,” CFO Martin Škopek commented with regard to the Group’s consolidated balance sheet.

“Playsponsible – Practicing Responsibility Together” is not just a motto, but the guiding principle behind all of the Group’s business activities, be it in the area of player protection, as a sponsoring partner, in social commitment or as one of Austria’s biggest taxpayers. Austrian sports alone receive 120 million euros a year directly from Austrian Lotteries’ business activities.

“We stand for the best possible player protection, and we’re also at the forefront of the international gaming industry. That is why we enter the new year with great confidence and with our most important goal in mind: the renewal of licences for Austria, for the lotteries and casinos as well as online. There is no tender yet, but we will apply for all licences and prove that we’re the best partner for this in the future as well. We’ve placed greater emphasis on this aspect in all our areas of responsibility and launched new initiatives, innovations and investments to clearly demonstrate that Casinos Austria and Austrian Lotteries continue to be the best partners for Austria in the gaming and entertainment sector,” said van Lambaart as he looks ahead to 2024.

SOURCE: Newswire.

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