Tag Archive : Europe

Gauselmann Group shuts 700 gaming establishments in Europe

Gauselmann Group has announced it has shut all production and sales activity throughout Europe, due to the coronavirus outbreak.

The German supplier has closed all 700 of its gaming establishments in the country and across Europe, which will impact its Lübbecke base.

Earlier this month, Gauselmann had confirmed that base would become its global sales headquarters.

The announcement comes following measures introduced by the German Government to close all non-essential shops to curb the effects of the coronavirus, which has caused nearly 20,000 deaths worldwide.

Despite this, Gauselmann’s worldwide departments will remain open to continue product development on a part-time basis.

The supplier also said it will use its financial reserves to support the business during the outbreak, with it yet being known how long restrictions will remain in place.

Gauselmann Group CEO and Founder Paul Gauselmann said: “As a family business, we are happy our employees stand by us not only in the past but also in the future.

“I am sure once this crisis is overcome, there will be an even better future for all of us.”

Betsson struggles in Europe as Q4 revenue drops 10%

Betsson saw revenue of SEK 1.29bn ($134m) for Q4 2019, a decrease of 10% year-on-year.

Casino revenue also fell by 10%, while sportsbook revenue dropped by 9%.

The operator’s full-year revenue for 2019 was SEK 5.16bn, down 5% from 2018, while operating income was SEK 865m, a decrease of 38%.

Net income fell 27% at SEK 787.1m, and operating cash flow amounted to SEK 1.15bn, a drop of 10%.

Betsson attributed the decline in revenue to its development in Sweden, Norway and the Netherlands, which “continued to be weak.”

Despite this, the operator was pleased with its sportsbook gross turnover, which it said “had developed strongly both during the fourth quarter and the full year 2019.”

Pontus Lindwall, President and CEO of Betsson AB, said: “The operating profit shows Betsson’s ability to deliver profitability, also during the challenges that 2019 entailed.

“We had expected some recovery in the closing fourth quarter, above all in the Swedish market, but we did not reach our objectives there.

“Up until now, one year after the Swedish re-regulation, we have still not seen the market consolidation that we expect due to the great number of operators, many of them showing no profitability.”

Despite the results themselves, Betsson’s share price rose from SEK 45.00 SEK to SEK 48.18 on the morning of its financial update.