Krasnaya Polyana casinos lost more than 680 billion rubles in 2020

Krasnaya Polyana casinos lost more than 680 billion rubles in 2020

Managing gambling establishments “Krasnaya Polyana” company LLC “Domein” reported historical losses. So, according to the report, for the first three quarters of 2020, the company lost 681.5 million rubles, which is a record for it.

Prior to that, the operator recorded unprofitable activity only once – in 2018. Then the losses amounted to 44 million rubles. However, in 2019, the company reported a profit of 40 million in Russian currency.

During the reporting period of the past year, LLC “Domaine” has received 1.5 billion rubles from its gambling activities. This figure was 4 times lower than the one that the company recorded at the end of 2019, when its income was no less than 6 billion rubles (the largest figure in the history of the operator).

Last spring, the top manager of IZ Krasnaya Polyana, Dmitry Anfinogenov, said that quarantine restrictions due to the coronavirus had hit the operator’s operations and financial performance very hard.

“Since March, the revenue collapsed to almost zero, but we had to fulfill our obligations. We were able to negotiate loan deferrals, we negotiated with partners, but we held ourselves accountable to our employees, who needed help and finances to get through this difficult time,” the functionary said.

Restarting all areas of the company’s business after the acute phase of the restrictions also required a significant investment, he said: “It takes tremendous effort and money to rebuild all of our former ties. We have a lot of work to do in order to win back positions both in the Russian jurisdiction and outside of it.”

If statistics are to be believed, the gambling industry in the Krasnodar Territory is one of the leading Russian industries that have been hit hardest by the coronavirus. Since March 20 last year, local authorities significantly reduced visits to public places, including casinos. Such establishments opened their doors only three months later.

Recall that the State Duma passed a number of amendments to the taxation of gambling.

Sarah Richardson

Hi! My name is Sarah Richardson and I am a gambling analyst, I do analytics and forecasting from more than 10 years, I write interesting articles and express my opinion in gambling and betting directions. As well as reviews of different games. As well as application testing, sports forecasts and much more. Read my blog. I share my tips, observations and thoughts.