Stadtcasino Baden sales up 26% in 2020 despite Covid-19 shutdowns
The Swiss casino operator Stadtcasino Baden Group has reported sales of CHF105.9m (€96.2m) for 2020.
Switzerland.- Stadtcasino Baden Group has reported a 26 per cent rise in revenue year-on-year for 2020 despite the impact of Covid-19 on its land-based casinos.
The company operates Grand Casino Baden, Casino Davos, and their respective online operations, Jackpots.ch and Casino777. Its financial results for the full year show gross sales of CHF105.9m (€96.2m).
Increased revenue from the online offerings jackpots.ch and casino777.ch outpaced the decline suffered by land-based casinos as a result of the Covid-19 pandemic. Together, they brought in CHF46.1m, up from CHF7m in 2019.
Meanwhile, Stadtcasino Baden Group’s revenue from land-based casinos fell 24.3 per cent to CHF58.4m, down from CHF77.0m in 2019. The majority of that (CHF43.1m) came from slots, while CHF8.2m came from table games.
Tips and service charges generated CHF2.2m, down 19.7 per cent, while food and beverage revenue fell 49.7 per cent to CHF3m.
The company paid CHF42.6m in casino tax, up 17.3 per cent year-on-year. Operating profit was reported at CHF11.7m, up 38.9 per cent year-on-year and consolidated profit at CHF3.9m, which compares to CHF3.6m in 2019.
The figures show the maturation of the Swiss online casino market, which was regulated in 2019 and saw two more licences granted last year.
In February, Stadtcasino Baden Group appointed new executives to oversee its two igaming brands.
It appointed Brian Christner as chief of online gaming for Grand Casino Baden, which operates Jackpots.ch, and Robert Kocher to oversee Casino Davos’s Casino777.
Stadtcasino Baden Group goes it alone with Gamanza
Last month, Stadtcasino Baden Group acquired Gamanza Group AG after the companies split into two business units.
Stadtcasino Baden Group already held, through Grand Casino Baden AG, a 50 per cent stake in Gamanza Group, which was founded by Swedish igaming entrepreneur Magnus Lindberg.
Games and sports betting is being transferred to a new company run by Lindberg, while Stadtcasino Baden Group will take ownership of the Gamanza brand, which will carry forward the group’s Player Account Management System and Customer Engagement Platform.
