CR59-p60&61-Business 1&4:SJC-Casino Review 19/8/07 12:53 Page 1
casinoreview
888 close to deal with Rank
Taiwan firm Royal International has almost 14 per cent. The
888 Holdings, the online poker and casino group, is close to Foreigner
Company (RIC) has become remaining share is owned by
agreeing a deal to move into sports betting with Rank, the UK
only
the first casino business listed employees and the public.
gaming group, expected to be its revenue sharing partner.
on the HCM City Stock This 24 per cent stake, the
Vietnamese
The companies are in negotiations for 888 to launch a betting
Exchange, trading around equivalent of nearly 8.6m
service with Blue Square, the betting subsidiary of Rank. The
operator 3,000 shares at a set price of shares, is listed on the
at VND174, 000. exchange. In the first half of
service would be branded by 888, with Blue Square providing
floats
The Vietnamese foreign casino 2007, the company earned a
the technology and back-office processing.
operator also owns hotels and $4.5m profit. The target for
has an equity capital of almost the entire year is $10m.
VND354bn (US$22m).
Taiwanese founder Juan
BUSINESSNEWS
Cheng I holds 61 per cent
whilst another founding
shareholder, Ha Long Tourism,
Swiss Casinos continues to
Ritzio raises
$280m in
feel growth in first half of 2007 debut CLN
Swiss Casino
the region of CHF 14m. readytoinvest
Holding AG remains
In 2006 the five casinos RUSSIA
together generated gross
on something of a
gaming revenue of CHF Far from remaining down in
roll with its interests
171.1m (previous year CHF the dumps over the excruci-
in five Swiss
152.1m). Of this, CHF 76m ating ridiculopathy of the
casinos, recording
(previous year CHF 65.6m) four proposed gaming zones
flowed via gaming tax to the being enforced in its domes-
further substantial Swiss Old Age and Survivor’s tic market, Russian operator
growth in earnings
Insurance Scheme and to Ritzio International is turning
during the first half
the cantons. to expansion in Germany
A spokesperson for Swiss and Italy. The plans were
of 2007. Casinos said: “With our sub- made public after the
stantial equity base and good Eastern European operator
improvementsbythegallen liquidity, these operations celebrated raising US$280m
SWITZERLAND provide an excellent basis through its debut placement
for the consolidation of our of Limited Recourse Notes
The five casinos owned or leading position in the Swiss (LRNs), which are more
part owned by Swiss Casinos casino market and for the commonly called Credit
Holding AG have continued further expansion of the Linked Notes (CLNs).
to perform strongly through- business. Each of the casinos The CLNs have a maturity
out the current year with owned and operated by the of three years with a semi-
gross gaming revenue rising Swiss Casinos group has a annual fixed coupon rate of
4.4 per cent during the first distinct individual character 10 per cent. The CLNs were
half of 2007 to reach CHF and the balance of gaming placed with a diverse group
88.2m, up from last year’s tables, slot machines and of investors following a suc-
GGR for the same period, tors through their doors, also formed well, with gross CHF 20.5 m so this year’s sophisticated entertainment cessful road show to Singa-
which totalled CHF 84.5m. showing relevant growth gaming revenue of CHF half time result increased varies according to specific pore, London and New York.
Swiss Casinos is the major- over the same period during 9.6m, up 10.3 per cent on by 2.8 per cent. local needs. Swiss Casinos is Vitaly Veselko, CEO,
ity shareholder in Grand the previous year which saw the previous year’s half way Consolidated gross revenue committed to responsible Ritzio International, said:
Casino St. Gallen, Casino 460,000 enter the five prop- total of 8.7m. A further at Swiss Casinos Holding AG social policies and created a “The proceeds from these
Zurichsee in Pfaffikon erties in the first six months. impressive performance rose 8.2 per cent from CHF social advisory board and a notes will enable us to grow
(Canton Schwyz), and Casino Grand Casino St. Gallen was also posted by Casino 56.9m to CHF 61.6m, while social concept for at-risk and diversify our business,
Schaffhausen. It also has a 50 enjoyed particularly strong Zürichsee, which last year interim profits rose 13 per individuals. The company particularly in Germany and
per cent share in Casino St. growth, increasing its gross saw the strongest growth cent from CHF 6.7m to CHF was proactively involved in Italy. These countries have
Moritz and a 31.5 per cent gaming revenue to CHF of all Swiss casinos, where 7.5m. For the current year, the development of casino amended gaming legisla-
share in Grand Casino 26.1m, up 12.4 per cent gross gaming revenue Swiss Casinos Holding AG is legislation submitting pro- tion in a way that suits the
Kursaal Bern. from the first half of 2006’s increased once again to expecting consolidated posals to the government, Ritzio model.”
The five venues have so figure of CHF 23.2m. Casino CHF 21.1m The previous revenue to reach some CHF which were more stringent In Germany Ritzio will
far welcomed 480,000 visi- Schaffhausen also per- year’s six month haul was 120m, with annual profit in than those finally adopted.” have operations of two kinds
- regular 'spiel halle' with
AWP machines and projects
which will see slot machines
Revenues
rose 14.6 per cent, or approxi- The recently completed placed in bars, hotels and
mately $922,000, to $7.3m renovation and expansion of restaurants. In Italy it will
up 14 per
versus $6.3m for the compara- the Route 59 casino, located operate slot halls together
ble quarter in 2006. The on the Czech-Austrian border, with its local partner.
revenue improvement was due approximately 45 minutes Commenting on the
cent for
primarily to increased business north of Vienna, is beginning company’s recent roadshow,
volume at TWC's two largest to produce returns. Atten- Veselko added: “The inter-
American
Czech casinos, Route 55 and dance rose 14.8 per cent and action with the investor
Route 59, and a 57.5 per cent slot revenue increased 54.3 community was productive
Chance
increase in total slot revenues. per cent at this location for the and I appreciate their com-
For the first half of 2007, second quarter of 2007 versus ments and their support.”
the company posted a 14.9 the same quarter last year, Kieran Donnelly, manag-
per cent, or $1.8m, revenue highlighting a major turn- ing director at Renaissance
transition increase, generating total around for the unit. Capital, said: “This deal was
CZECH REPUBLIC revenue of $14.2m in com- The revenue growth attrib- closed in difficult market
parison to $12.4m realised utable to the product conditions, which speaks to
Having discovered that for the same period a year improvements, coupled with the strength of the Ritzio
Czechoslovakian grass can ago. The net income for the the record setting revenue story, its management and
be made all the greener by the owner and operator of the the group’s slot machines. same periods was generated by Route 55, the structure of the deal.
tapping into German and American Chance branded TWC generated net income $1,423,000, versus $303,000, TWC's largest casino located The deal was placed with
Austrian fields on the other casinos in the Czech Repub- of $1.028m for the second an improvement of 370 per on the Czech-Austria border real supporters which will
side of the fence, American lic has seen a 14 per cent quarter 2007, versus $37,000, cent. Furthermore, TWC 40 minutes north of Linz, hold Ritzio in good stead for
Chance Casinos has contin- growth in profit for the or less than $0.01 per share, achieved live game atten- Austria, reflect the the coming years.”
ued to cultivate its nostalgic quarter ended June 30, 2007 for the same quarter in 2006, dance and slot revenue company's strengthening Renaissance Capital
US theme with impressive versus the same quarter in an increase of $991,000. improvements of 9.3 per cent presence in Europe and acted as an arranger and
growth so far in 2007. 2006, a jump due mainly to For the quarter ended June and 60.5 per cent, respec- provide a solid basis for con- sole distributor of the trans-
Trans World Corporation, the improved performance of 30, 2007, company revenues tively, during the period. tinued future growth. action.
60 September 2007 businessnews
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