Casinos and games, who goes up and who goes down in the first half of 2018
Gioconews.it analyzes the trend of the four gaming houses in the first half of the year: Venice is the best.
The first six months are the exact opposite for Italian casinos. On the one hand, the good performance of the Casino di Venezia stands out, which is collecting many positive results, while on the other hand the Casino Campione is experiencing a profound crisis, which can’t reverse the negative trend (due to factors that don’t really concern gaming in the strict sense). In the middle, the two Sanremo and Saint Vincent casinos, with fluctuating trends and which, despite the overall result in decline, give hope for a future recovery.
Therefore, the usual analysis of Gioconews.it focuses on the six-month results and, as always, starts from the casino that, as mentioned, had the best result.
VENICE – Despite labor tensions, mainly on the subject of the corporate labor contract (the pre-agreement with company and property by some unions were then rejected by workers with a referendum, and we are still waiting to start again the process to end the current company regulation), the Casinò di Venezia ends the first half with a positive sign, the only one in Italy. Revenue stops at €48.415.851, that is an excellent 7.29 percent compared to the same period of the past year, and this result is in line with that obtained from slots, which grow of 6.37 percent, for a total of €26.628563. On the other hand, there is still work to be done about entrances, which, in the period considered, are of 354,295, that is to say 6.03 percent less.
It should also be pointed out that, in the face of rising revenues, also the final assessment of the Cdv Gioco Spa, recently approved by the shareholders’ meeting, ends with profit for the first time in years.
SANREMO – The Casinò di Sanremo is at the seecond place, which had a half year with a fluctuating trend, and which ended however with a good result in June, strengthened by recent investments and innovations made on games and their bet limits. Also thanks to it, the decline, in the first half of the year, stops at minus 2.51 percent, for a total amount of €21,119,160. As for the entrances, they were a total of 92,241, that is to say 10.12 percent less, and also slots have a very little negative result: minus 0.37 percent (€16,652,334) .
It should be added that in the first half of the year the Sanremo city council approved the three-year business plan of the casino, providing for the construction of a tunnel connecting Corso Matteotti and the gaming house. In addition, but this is now a happy habit, the assessment of the casino ends with profit, which certainly shows the good management of the gaming house.
SAINT VINCENT – The Saint Vincent Resort & Casino is next to the casino di Sanremo, which is continuing to implement the restructuring plan approved by the Valley Council last year and which achieved important innovations, above all in the last period. First of all, the reopening of the Evolution room and the concurrent opening of a new live poker season, entrusted to De Vere Concept Srl.
The results will be seen later, and they will also be shown to the new regional council led by Nicoletta Spelgatti of the Lega Nord, but meanwhile the half-year result marks revenue for €27,143,447, or 2.82 percent compared to the same period of the previous year.
The decrease of entrances is more pronounced, decreased by 7.41 percent (a total of 164,231), while slots, which also in Saint Vincent are particularly important for total revenue, collect €16,536,583, a good 6.24 percent more.
As for table games, we must remember that the Casino started a selection to find some porteur, which could become operational in the second half, with positive repercussions especially on tables.
CAMPIONE – Very difficult half year for the Casinò Campione d’Italia and its property, the first one is dealing with the file for bankruptcy filed by the Como Public prosecutor’s office and the second one, the Municipality, with the insolvency, as a result of which it is expected the appointment of a liquidator. The positive fact is that an agreement to reduce labor costs has been reached, avoiding collective redundancies, but tensions remain and they have had consequences both in terms of revenue and entrances. Here are the data: revenue decreased of 11.95 percent (€40.460.277), while entrances of 15.47 percent (288.848).
Not even slot machines avoid a definitely negative trend, decreasing of 11.71 percent, stopping at 16.652.334.
Given these figures, an intervention for the relaunch of entrances is urgently needed, its decline is in danger of greatly reducing the benefit, for the overall accounts, deriving from the agreement on the reduction of labor costs. Surely, also the uncertainty on corporate governance and on the future of the sole director Marco Ambrosini, don’t facilitate the achievement of this objective.