Germany – Baden-Württembergische casinos generates revenues of €90m for the first timeBy Phil - 26 February 2019
German casino group Baden-Württembergische Spielbanken improved its earnings in the financial year 2018 by 4.7 percent with its three locations in Stuttgart, Baden-Baden and Constance growing at roughly the same level, 4.9 per cent, as in the previous year.
Gross Gaming Revenues exceeded €90m for the first time, reaching €90.2m with the Spielbank Stuttgart accounting for half of the total. Roulette and blackjack led the way with a 20 per cent improvement in 2018.
The three casinos have consolidated their positive development, increasing GGR from €68.9m in 2014, €78.3m in 2015, and €82.1m in 2016. The number of visitors fell slightly in 2018 by 1.1 per cent to 587,256 from 594,000 a year earlier. The number of employees rose to 598 (+2.4 percent, 2017: 585).Thanks to the positive business development, the state-owned company Baden-Württembergische Spielbanken is now the second best-performing group in Germany, behind the most populous state of North Rhine-Westphalia with four locations.
Otto Wulferding, Managing Director of Baden-Württembergische Spielbanken: “At the moment, it is not just the good economy that is playing into our hands. Now investments are paying off to make our casinos future-proof. Our guests can play but also experience more. They encounter a culture of entertainment in a world of entertainment, with roulette and poker, but also with readings, shows and more. That’s not on the internet. We have to compete with online casinos by offering added value – as well as legal gaming unlike online casinos.”
Mr. Wulferding was refering to the current situation where all the online licences in Schleswig-Holstein have expired.
“Nevertheless, players can continue to play online for money, online casinos continue to advertise, although their offers in Germany are illegal,” Mr. Wulferding explained.