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CR78-p56&57-Business3&4:SJC-Casino Review 22/3/09 00:31 Page 2
Pagcor hands over P11bn
State-owned Pagcor has paid the national treasury
in the Philippines 11bn pesos (E177.7m) in
dividends for 2008, up 6.4 per cent on the previous
year. It is the most profitable state enterprise in the
country. But the company is in dispute with the
finance ministry about whether it should pay VAT and
corporate taxes, claiming the social fund would lose
out by 1bn pesos (E16.1m).
WestSpiel outperforms the
declining German market
Despite the toughest market conditions probably in Europe, WestSpiel has managed to
hold its own against its competitors in Germany: the slide in its annual revenues were
not as bad as everyone else’s.
couldbeworse The company operates area complement each director Erik van den Berg.
WESTSPIEL GROUP seven casinos: five in North other perfectly and are sup- “However,with the casino in
Rhine-Westphalia, one (with ported by a co-ordinated Duisburg and the casino in
German casino operator satellite slot operations) in programme of events and Hohensyburg, the WestSpiel
WestSpiel Casinos saw its Bremen, one in Erfurt and are rounded off by excel- group still holds the top
revenues tumble by more one in the capital Berlin. lent gastronomy.” places as it did before.”
than 16 per cent in 2008 com- Casino Duisburg, the The former premier In order to address the
pared to the previous year newest addition to the casino in Germany, Casino decline in business, Hohen-
managing to pull in E160.8m, company’s portfolio, Hohensyburg in Dortmund - syburg has been positioning
Duisburg’s director, Claudia
down from E191.8m in 2007. opening two years ago, saw on the other side of the itself as a centre for poker,
Bieling: the new casino is one
The company blamed revenues from its table massive Ruhr conurbation, which it believes can help it
of the few in Germany to report
squarely the new regulatory games rise in the year by 21 had a very turbulent year develop a sustainable busi- gaming revenue growth
environment for the massive per cent to E20.6m. due to regulatory and other ness model that will stop or
reduction, in particular the However, revenues from slot changes. The number of visi- reverse the current trend.
interstate treaty on gambling, machines fell by around 7.5 tors to the casino fell by 16.4 As in the rest of the tors fell by 290,000 or 15.8 The amount that WestSpiel
with its identity controls for per cent to E35.6m. Never- per cent to 436,600. Table country, with the notable per cent to 1.55m. has been able to hand over in
slot machine players and adver- theless, with total revenues games brought in 20 per exception of Duisburg and Inevitably, this has led to casino duty has also fallen
tising restrictions, and the of E56.2m, a gain of just cent less at E14.2m while Bremen, every other casino staff cuts, with the whole significantly, down almost
smoking ban. Taken together, under 1.3 per cent and a rise the gaming machines had a in the group saw revenue company employing almost 27.9 per cent to E102.5m -
all the casinos in Germany saw in visitor numbers of 3.4 per dramatic fall, beyond the declines and fewer visitors. 400 fewer people in 2008, at E39.6m less for social and
their revenues fall by almost cent to almost 530,000, national average, of 26.8 per In total the number of visi- 1,050, than it did in 2007. charitable projects.
22 per cent last year. company’s claim that Duis- cent to E30.8m. The total
In a statement, the burg is now the number one gaming revenues of E45m
company said: “WestSpiel casino in Germany must be was 24.5 per cent down on
Casinos was also not able to taken seriously. last year.
escape this trend, however, “This is a team achieve- “These results have seen
with a 16.2 per cent fall, it ment,” said casino director Hohensyburg lose its first
has done better than the Claudia Bieling. “The classic place within the German
national average.” games and the slot machine casino sector,” said casino
Casino Hohensyburg has been deposed from its place as the
leading casino in Germany by its close sister Duisburg
Gaming revenues
up in Missouri
showme was not uniform across the Ameristar, which runs one
MISSOURI board - the state’s second of the leading casinos in
biggest casino, Harrah’s in Missouri, commented: “It’s
The lack of willingness to St Louis, saw a three per the combination of a lot of
travel to Las Vegas or cent fall - most are reporting things. We don’t rely on
Atlantic City is having a healthy increases in the travel the way Las Vegas
positive impact on casino number of visitors and and Atlantic City do.
revenues in other parts of revenues. The state’s six There’s the removal of the
the US, including the smallest casinos all saw loss limits and people
Midwestern state of revenues rise from January staying closer to home and
Missouri. and five from February 2008. not travelling long
In February, casinos in Gaming in the state has distances. The combination
the so-called Show-Me benefited significantly from of all of them is certainly
State saw revenues rise by the removal of a loss limit of making the casino
just under 2.7 per cent year- $500 (E390) over two hours operators happier than their
on-year to $139.8m last November. domestic conterparts
(E108.9m). While the rise Troy Stemming of across the country.
April 2009 • businessnews 57
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