Stadtcasino Baden AG makes a profit of CHF 3.5 million in the second year of the coronavirus pandemic
Press release, May 12, 2022
Stadtcasino Baden AG closed the 2021 financial year with a gross gaming revenue (GGR) of CHF 103 million (previous year: CHF 107 million), resulting in a profit of CHF 3.5 million (previous year: CHF 3.9 million). At CHF 43 million, the online casino jackpots.ch generated almost as much gross gaming revenue as the physical casino for the first time ever. However, it is important to note that the pandemic forced the physical casino to remain closed for 16 weeks in 2021.
Of the CHF 103 million gross gaming revenue, Stadtcasino Baden AG paid a total of around CHF 39.5 million in casino tax in the last financial year (previous year: CHF 42.5 million). This primarily benefits the federal government and goes into the OASI fund. At the end of 2021, the Group employed a total of 412 members of staff at its various locations in Switzerland, Slovenia, Costa Rica and Malta (previous year: 377).
Strong development in the online casino
Chairman of the Board of Directors Jürg Altorfer is pleased with the development of the online business in particular. “With the launch of jackpots.ch, we became Switzerland’s first online casino and, after two full years of business, we have become one of the top three in Switzerland. Above all, however, the online business continued to be an important source of revenue in the second year of the coronavirus pandemic.” Gross gaming revenue from jackpots.ch increased by 13% in the reporting year to CHF 43 million (previous year: CHF 38 million). The Stadtcasino Baden Group’s online casino is therefore on par with the gross gaming revenue of the traditional casino business. However, it is important to note that the parent company in Baden was closed for a total of 16 weeks in 2021 due to the pandemic.
Anniversary dividend increased
In 2022, Stadtcasino Baden AG is celebrating its anniversary. July is 20 years since the Grand Casino Baden opened its doors. The Board of Directors has therefore decided to increase the dividend by an “celebratory five francs” and set it at CHF 30 (2020: CHF 25). The anniversary will be celebrated as part of the Annual General Meeting on June 3, 2022, with further celebrations planned for early July. “The celebratory five francs can be easily justified based on the Group’s solid financial situation,” says Chairman of the Board of Directors Jürg Altorfer. “We are also pleased that, despite the pandemic-related challenges that were faced in our operational business, we are once again able to make close 2021 turning a profit.”
Acquisition of Gamanza – sale of Davos
Two major transactions took place in the 2021 financial year. Firstly was the complete acquisition of several parts of the Gamanza Group, in which Stadtcasino Baden Group had previously held a 50% share as part of a joint venture. The Gamanza companies program software for online casinos and are the market leader in Switzerland: six of the eleven Swiss online casinos have licensed Gamanza’s GaminGenius software as a platform for their online offerings.
In September 2021, Stadtcasino Baden AG also sold its 46% stake in Casino Davos to its previous joint venture partner, the Belgian Ardent Group.
New licensing challenges
The Stadtcasino Baden Group’s anniversary year will be another year of challenges for the Group. The federal government plans to publish the criteria for retendering licenses in May. “All Swiss casino licenses will expire in 2024,” explains Altorfer. “Every casino must now apply for a license by submitting an application.” The tender process is open, i.e. all interested parties who meet the requirements can submit an application.
The Stadtcasino Baden Group intends to apply for three locations as part of its corporate strategy. In addition to its parent company in Baden, the Group also plans to submit license applications for Locarno and Solothurn, as previously announced. “We have been in Baden for 20 years now, during which we have developed and continuously improved a concept that is also ideally suited to these two new locations – with the corresponding adjustments being made to suit local conditions, of course,” says Jürg Altorfer.
Note to editors:
The 2021 Annual & Financial Report is available online at:
For further information, please contact:
Stadtcasino Baden AG
Communication & Public Relations
5400 Baden, Switzerland
Tel.: +41 (0) 79 869 70 75