Austria holds a third of the shares of all casinos, sports betting, slots and lotteries in the nation. In fiscal year 2017, state owned Casinos Austria AG (CASAG) recorded €622 million in taxes. This makes the gambling company one of the most active taxpayers in Austria.
The Group’s growth from 2016 to 2017 was 3.5%. Accordingly, CASAG exceeded turnover of €4 billion with the brand. However, the operation shows a declining balance sheet. While €150 million was recorded in 2016, this was down to €139 million in 2017. There is no trace of satisfaction felt. Group CEO Alexander Labak says he had expected more.
One of the biggest issues under dispute between CEO Labak and the Supervisory Board is Casinos Austria International. While the boss wants to dump these foreign subsidiaries, the shareholders and the Ministry of Finance are pushing to hold this division.
Full article: Online-Casino.de (German)
