Supplier News
Mexico – Storm blames Mexican smoking ban for year-on-year decline
By Phil - 23 May 2016
Storm International has blamed the introduction of a smoking ban in Mexico for an eight per cent year-on-year revenue decline in 2015.
Profits for the operator fell by 11.9 per cent however it saw 25 per cent revenue growth in Georgia with its Shangri La Casino operation in Tbilisi and 12 per cent growth in Germany.
The group owns and manages Hollywood Entertainment with about 1,000 slot machines in two large complexes in Monterrey, Mexico.
Darren Keane, CEO of Storm International, said: “In 2015 our company has again strengthened its positions with revenues showing growth in almost every country. Considering the fact that our internal accounting uses the US dollar as our base, we have seen a dip in overall revenues and profits in 2015 due to the ever increasing strength in the value of the dollar against all of the local denominations where we operate. The Mexican smoking law which was brought into law in September 2015 also made a big impact on our revenues and was the single largest reason for the company drop in profitability.”
“Currently Storm International is actively working in the markets of Germany, Mexico, Belarus, Armenia and Georgia. The company has several new projects at various stages of development in European and Asian markets,” added, Lavrenty Gubin, PR Director Storm International.
