Business News

Hit Gaming Group H1 Loss Level Y/Y

Nova Gorica, 17 October (STA) - The group around gaming company HIT finished the first half of 2012 with a consolidated loss of EUR 2.7m, which is roughly the same as last year. The group meanwhile managed to increase its earnings before taxes (EBIT) by almost EUR 1m year-on-year to EUR 1.3m despite the difficult situation in the gaming sector.

The group's revenues in the first six months of 2012 totalled EUR 87.3m, HIT's supervisors heard at their session on Wednesday.

In the first eight months, the core company generated EUR 2m in operating profit and a pre-tax loss of just below EUR 1m with the visitor numbers in HIT casinos and hotels remaining level to the same period last year (920,000 guests and 91,000 overnight stays).

HIT, which currently employs 1,571 people and has paid EUR 27.6m of gaming tax in the first eight months, managed to soften the declining trend in turnover compared to last year. Its 11% decline in turnover in the first eight months is however still about a half of the drop recorded by Hit's Italian rivals on average.

The supervisors gave the management a green light for looking for a strategic partner. HIT chairman Drago Podobnik said several strong companies from around the world had shown interest in investing in HIT at a recent Las Vegas gaming congress he attended.

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