Business News

HIT with EUR 560,000 Profit in First Six Months

Nova Gorica, 04 July (STA) - The Nova Gorica-based HIT group, Slovenia's biggest casino operator, reported on Monday EUR 81.1m in revenues and a pre-tax profit of EUR 560,000 for the first six months of 2011.

According to chairman Drago Podobnik, the results indicate that the restructuring plan, which projected a EUR 700,000 loss for the period, could be completed in two instead of three years.

HIT generated a EUR 3.4m loss in the same period last year.

The group managed to reduce its debt burden by EUR 6.6m to EUR 101.6m in the first five months.

With encouraging indicators, it hopes to finish the year in the black.

HIT presently employs 1,450 people, with Podobnik telling the press in Nova Gorica that the number would not be cut further.

Podobnik on the other hand pointed to increasing competition from Italy where 22,000 new slot machines have been installed this year. Thus HIT is investing more into promotion and new projects, such as open air casinos.

More long-term projects also include the construction of a large gaming centre somewhere in western Slovenia. The company is currently considering six different locations.

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