Casinos Austria sees 4.5 percent revenue increase despite "challenging economic environment"

Despite what the operator called "a highly challenging economic environment, successful and positive developments were achieved in terms of net result, fiscal performance and gross gaming revenue." Net profit increased by 18.4 percent to 182.89 million euros, while gambling tax amounted to 612 million euros, an increase of 2.37 percent.

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

This positive evolution clearly demonstrates that the Group's products and services are well received in the market. The strategic reorientation of casinos in Austria, which continued systematically until 2023, had a positive impact. Austrian lotteries, and in particular online games on the win2day website, continue to develop in a positive direction. This shows that the pipeline to the only licensed online game in Austria, win2day.at, is working successfully. 2023 also saw increases in the number of guests and gross gaming revenue in the international business area. 

The subsidiary WINWIN also increased its gross gaming revenue by 3.3 percent compared to 2022. The sports betting provider tipp3, which is 56 percent owned by the 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., the war in Ukraine and the war in the Middle East) were also felt more clearly over the course of 2023.

With over 724 million in taxes and duties, the Group remains one of the country's largest taxpayers, making Austria the biggest winner from a range of legal and responsible gambling offerings.

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

“Despite a challenging economic environment in recent years, we also managed to achieve commercial success with our entertainment program in 2023. Thanks to the commitment and experience of our employees, the path of reorganization and innovation that we have successfully undertaken is We are giving its fruits, which means that we are well equipped for all future challenges,” commented CFO Martin Škopek about the group's consolidated balance sheet.

“Playsponsible – Practicing Responsibility Together” is not just a motto, but the guiding principle of all the group's commercial activities, whether in the field of player protection, as a sponsoring partner, in social commitment or as one of Austria's largest taxpayers. Austrian sports alone receive 120 million euros per year directly from the commercial activities of the Austrian Lotteries.

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