Betting company Tipos fails to sell loss-making Casinos Slovakia.

By bne IntelliNews December 20, 2011
Slovak state-run betting and lottery company Tipos and Merk Reality have failed to sell their loss-making casino operator Casinos Slovakia, SITA news agency reported. The public tender for joint sale of shares of Casinos Slovakia that its shareholders announced this year was unsuccessful, Martin Jaros, spokesman for the finance ministry, was quoted as saying. The wholly state-owned Tipos owns 51.32% of Casinos Slovakia, while Merk Reality holds the remaining 48.68% stake. Aiming to streamline its business, Casinos Slovakia closed down three loss-making casinos - in Kosice and Zilina in October and the Reduta Bratislava casino as of November 1, and now runs two casinos. The company reported a EUR 1.2mn loss for 2010, blaming the economic crisis, which pushed away clients. Its revenue fell 15.8% y/y to EUR 28.2mn in 2010, as the number of people who visited its casinos dropped 135% to 48,700.

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