Casinos Austria Reorganises Board

Casinos Austria Reorganises Board

Following an annual general meeting and board meeting, Casinos Austria has reorganised its Supervisory Board and added new members.

Casinos Austria is a gambling company, which owns and operates a number of land-based casinos around the world and is one of the largest casino operators in the global gaming industry.

The new Chairman of the board is Wolfgang Hesoun, as the corporation looks for positivity going forward in to the new year and to recover from a particularly challenging period for the business and the industry.

Thomas Schmid ÖBAG Managing Board member commented on the reorganisation, which also sees Gerhild Hofer and Thomas Polzer leave the committee:

“I am delighted that we were able to secure an experienced top manager as President of the Supervisory Board, and that person is Wolfgang Hesoun.

Our current personnel decisions show that after a challenging period, we are embarking on a new chapter for the company, one in which the Managing Board, the employees, the Supervisory Board and the owners work together to create a positive future for the company”

Casinos Austria owns and operates a number of properties within the Austrian jurisdiction, including Baden, Graz, Linz, Salzburg, Wien along with multiple other properties situated in other countries, including Grand Casino Belgrade and The Reef Hotel Casino, the only casino in Cairns, Queensland, Australia, in which it jointly owns with Accor Casino Investments (Australia).

The corporation has released details of the changes and what it aims to achieve, along with outlining the basis of why the reorganisation took place:

‘Syndicate contract brings stability to the company

The basis for the changes in membership of the Boards is the syndicate contract between the SAZKA Group (majority owner) and the state-owned holding company ÖBAG.

This contract was recently approved by the EU Competition Commission. “The syndicate contract between the two main owners amicably regulates the strategic development and alignment of the corporate group. Our shared vision and long-term strategy provide the stability that the company needs.

This is particularly important in the current difficult situation as well as with regard to the challenges facing the corporate group in the near future. In particular, the two main owners will make a substantial contribution to strengthening distribution and building up new online services, as well as driving forward the urgently needed fight against illegality,” SAZKA CEO Robert Chvatal says about the new cooperation between the owners.

Player protection is to be a focus of the Supervisory Board

Player protection and handling gambling responsibly has always been a central issue within the Casinos Austria/Österreichische Lotterien Group.

In future, the Supervisory Board will provide tangible support for the company’s efforts in this crucial area. “Casinos and lotteries bear great social responsibility in the gaming sector. As a core shareholder, it is of particular interest to ÖBAG that our shareholdings continue to expand their pioneering role in the area of player protection in Europe.

With Erika Stark-Rittenauer, we on the Supervisory Board can provide valuable input in this regard,” Schmid says with respect to the future focus.

Implementation of the restructuring programme

The report on the ReFIT restructuring programme was discussed at length in today’s meetings.

Following intensive negotiations, a comprehensive package was put together in a very short time, and most of it has already been implemented. These far-reaching measures will save 50 million euros in the long run and reduce the number of employees by around 500 FTEs across the entire Group.

The fact that almost the entire personnel reduction could be carried out in the form of amicable separations and accompanied by corresponding social plans, new collective agreements and company agreements was noted as a positive aspect.

This was possible because an amount in the high double-digit millions was spent on the design of these separation packages. Far-reaching internal restructuring has made processes much more efficient and made it possible to focus on new entrepreneurial tasks. This has created a basis for the long-term security of the corporate group.’

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