Casinos Austria has announced that it has cancelled plans to sell its international division, Casinos Austria International (CAI), given its improved performance.
“We have made the decision not to sell CAI. We have analysed the situation and decided that we should keep CAI but unlike in the past …the foreign casinos are now divided into three groups,” stated the company’s CEO Alexander Labak.
“Wherever we are in control, we will be more involved [while] the second group will continue as a financial investment.”
Labak explained that the third group covers the company’s loss-making operations, which will be “pushed out”, presumably meaning they will either be sold or closed.
In its full year figures for 2017, the company reported hat revenues rose by 5.9 per- cent to E133.84m across its 33 international properties.
Things were less rosy on the domestic front as operating revenues for the company’s 12 casinos in Austria fell from E30m to E19m.