The Gauselmann Group has reported revenues above pre-Covid levels for the first half of 2022, marking the first time that its sales have exceeded these levels since the pandemic began.
The business reported revenue of €1.75bn (£1.48bn/$1.75bn) in the six months to 30 June, which was up slightly from the €1.74bn recorded in the same six months of 2019.
It comes after years of pandemic-induced difficulty for the land-based slots operator, which said its sales were reduced by a combined €2bn during 2020 and 2021, with its fleet of around 1,000 venues closed for large parts of that period. At the same time, it said that operating costs were “largely unchanged” despite the closures.
“It is great news that the pandemic has bottomed out and we are finally back in charted territory again,” chairman Paul Gauselmann (pictured) said. “This success is primarily the fruit of our good ideas and the dedication of each and every one of our employees and once again goes to show what you can achieve with hard work and team spirit.”
Besides the general recovery from the pandemic, the Gauselmann Group said its rebound was also due to “increasing diversification”.
“The Gauselmann Group is positioning itself on an ever-broader base – and in doing so is reducing its dependence on individual markets and business models,” the business said.
In particular, the group cited growth in the UK and Spain as a key reason for the recovery, with this helping to “compensate for the increasingly difficult situation in the German home market”.
As a result, non-German operations now make up more than 60% of Gauselmann’s revenue.
“From an entrepreneurial point of view, it was hugely important to drive forward our international business activities,” Paul Gauselmann said.
The business also increased its employee headcount by 10.7% in 2021 and now employs close to 15,000 people.
The business also discussed the launch of online casino in Germany, with subsidiary Mernov receiving the first slots licence in the country. Paul Gauselmann said, though, that conditions may need to be more “reasonable” for operators to succeed in the market, starting with more effort being taken to fight the black market.
“We will definitely be making an active contribution with good ideas in the online segment,” he said. “If we perform and can draw on more reasonable framework conditions going forward, success will follow.”
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