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German casinos suffer significant losses due to pandemic


Gross gambling revenue fell 34.5 percent in the first half of the year.
  • World
  • 2020-10-13 14:48:27
  • 664
German casinos suffer significant losses due to pandemic

The coronavirus pandemic is causing major financial shocks in German casinos in Baden-Baden, Constance and Stuttgart. According to Otto Wulferding, casino director in Baden-Württemberg, gross revenues from the gambling sector in the first half of the year fell by 34.5% to 24.1 million euros.

“This year it can no longer be replenished,” the director said.

It is worth noting that last year, three gambling houses in Germany showed a record income of 107.2 million dollars, and in general, last year the gambling sector transferred 56 million euros to the state budget. A finance ministry spokeswoman said the expected annual deficits would be covered by the company's equity capital, but she did not give any forecasts regarding the further development of this type of business.

 
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