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SLOVENIA (PART II) Focus


Italy,which isHit’s most important


market,was one of


the first countries to be hit by the recession and


therefore affected


business. In addition CasinoKobarid saw major competition fromthe Venice Casinowhich installedmore


gaming devices plus the area sawnew slot halls opening also offering live


games such as Texas Hold ‘em.


SLOVENIA:VITALSTATISTICS Capital: Ljubljana Population: 2,003,136 (2010) Land Area: 20,273 sq.km Median age: 42.1 years Languages: Slovenian 91%, Serbo- Croatian 4.5%, other 4.4% Government: Parliamentary Republic Chief of State: President Danilo Turk (since 2007) Head of Government: Prime Minister Borut Pahor (since 2008) Ethnic Groups: 83%, Serb 2%, Croat 1.8%, Bosniak 1.1%, other 12% Cabinet: Council of Ministers nominated by the Prime Minister and elected by National Assembly. Elections: President is elected by vote for five year term. Next elections due in Autumn 2012.


Casinos: 9 (max permitted 15) Slots: 8,917 (gaming halls 4,851 and casinos 4,066) Casino Tables: 277 Gaming arcades: 33 (max permitted 45) with alcoholic licences) Gross Revenue: €402.8m Visitors: 4.9m (gaming halls and casinos)


whilst the other Hit casino gaming establishments saw drops of around 10 per cent in gaming revenues from €204m in 2007 to €178m in 2008.


Meanwhile gross operating revenues for the company from games of chance and casino entrance fees amounted to €223m (a three per cent drop from 2007 figures). The aim during 2009 was the stabilise revenues and improve the utilisation of the group’s capacities


the Casino Drive-in (Vrtojba) both of which expire at the end of this year. The Drive In operates 188 slot machines and 12 electronic roulettes and is designed in 1950s American style.


The global economic crisis has affected all areas of business in Slovenia and Hit has also suffered. Economic growth slowed considerably in 2008 due to smaller growth of capital investments and exports generally. Average inflation rate during 2008 soared to 5.7 per cent driven by rising food and energy prices and coupled with all these factors the anti smoking law was introduced.


Hit experienced some drop in business back in 2007 which was mainly due to the anti smoking legislation introduced that year. The following year saw some stabilisation combined with capital


investments in both Slovenia and Croatia. However, with the arrival of the global recession the company saw a drop in business due to a lack of disposable income from consumers which affected revenues at the gaming establishments. In addition competition increased which led to some closures.


Italy, which is Hit’s most important market, was one of the first countries to be hit by the recession and therefore affected business. In addition Casino Kobarid saw major competition from the Venice Casino which installed more gaming devices plus the area saw new slot halls opening also offering live games such as Texas Hold ‘em.


The only exception for Hit during this period was the Montenegrin Maestral Resort which saw a 29 per cent increase


G3 I OCTOBER 2010 I PAGE 29


The global economic crisis has affected


all areas of business in Slovenia andHit has also suffered. Economic growth


slowed considerably in 2008 due to


smaller growth of


capital investments and exports


generally. Average


inflation rate during 2008 soared to 5.7 per cent driven by rising food and


energy prices and coupledwith all these factors the


anti smoking lawwas introduced.


In 2008 the Hit Group casinos and slot halls accounted for €61.9m of gaming tax and other duties. Of this €60.3m (or over 97%) of taxes came from casinos and slot halls established in Slovenia. Total Hit Group Gross operating revenues amounted to €239.9m in 2009 of which 86 per cent were generated via the Slovenian based companies whilst total revenues came to €245.7m and with total expenses of €266.1m the consolidated net loss for the group came to €17.2m.


The casinos saw a total of 2.2 million visitors, an increase of 15 per cent from 2007 which is partly a consequence of new openings of Mond, Kristal and first full year of operations for Larix. The group operates in total across all its domestic and international casinos some 4,010 slots and 215 table games.


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