Business News

Gaming Company Hit Ends 2009 with EUR 7m Loss

Nova Gorica, 04 February (STA) - The management of Slovenia's biggest gaming company Hit estimates the company's operating loss for 2009 at EUR 7m. Total revenues topped EUR 163m, which is 13.1% less than planned, Hit said in a press release on Thursday.

The management also estimates that Hit generated last year EUR 187.3m in gross turnover, which is down 13.6% year-on-year.

The gaming sector accounted for EUR 153.8m (15.5% less than planned), while the hospitality sector accounted for EUR 23.2m (8.8% less than planned).

Gross turnover from other activities and services amounted to EUR 10.3m, which is 4% above the target.

A total of 125,500 guests visited Hit's casinos last December, while the number for the entire 2009 stands at 1,466,500, which is 9.5% less than in the year before.

According to the management, the decline in the number of visitors is a consequence of the financial and economic crisis as well as increased competition.

At the end of December, Hit employed 1,747 people, which is 3.4% less than in the same month in 2008. The company reduced the number of employees mainly with early and regular retirements, the press release says.

The results were discussed on Wednesday by the supervisory board, which also examined plans for 2010, with the main goals being achieving stability in operations and cutting costs.

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