The giant Gauselmann Group is recovering well from the pandemic effects, its half-year results show.
The German supplier of gaming machines hit similar figures in the period to those it achieved in its first half of 2019. Sales were €1.746bn, a tiny fraction up on the €1.74 of 2019. The overall cumulative sales of all group departments in 2019 achieved €3.4bn.
Chairman Paul Gauselmann, 65 years in charge of the group, commented: “It is great news that the pandemic has bottomed out and we are finally back in charted territory again.
“This success is primarily the fruit of our good ideas and the dedication of every one of our employees and once again goes to show what you can achieve with hard work and team spirit.
“The past two coronavirus years had cost the company €2bn in lost sales revenues. During the lockdowns, all gaming arcades, casinos, sports betting shops and shipboard casinos across Europe – as many as 1,000 outlets altogether – had had to close for around nine months. Operating costs, however, remained largely unchanged.”
He added that diversification also played a role in the turnaround. Gauselmann said that the group was positioning itself on a broader base and reducing its dependence on individual markets and business models.
“This is also reflected in the current sales performance. A return to pre-Covid levels was only possible because of the development and expansion of international business operations and casinos.
“The company has tapped into two business areas that compensate for the increasingly difficult situation on the German home market. The most important markets in other European countries are currently the UK and Spain. From an entrepreneurial point of view, it was hugely important to drive forward our international business activities.”