Casino Austria Swiss Ag

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Karl Stoss to succeed Leo Wallner as Director General, Paul Herzfeld appointed Deputy Director General, Dietmar Hoscher appointed new Member of the Board.

In a meeting held on 2 November 2006, the Supervisory Board of Casinos Austria AG agreed the following changes to the company’s Board of Directors:

Director General Dr. Leo Wallner (70), the longest serving Director General in Austria, will leave the Board of Directors in 2007, the company’s 40th anniversary year, to join the Supervisory Board. Dr. Wallner’s appointment as Vice President of the Supervisory Board will be confirmed at its Annual General Meeting on 25 May 2007.

  • At Casino St.Moritz we believe visiting the casino is a special occasion and we request our guests to dress accordingly. To ensure that all our guests can enjoy comfortable and sophisticated surroundings, we take care to maintain a clean and cultivated look.
  • Casinos Austria AG. Casinos Austria is a leading national and international gaming company with numerous locations in Austria and other countries offering guests the enjoyment of gaming in a stylish ambience. Responsibility towards each and every player is one of the main pillars of our corporate culture.

Dr. Karl Stoss (49) will join the Board at Casinos Austria AG with effect from 1 January 2007. His appointment as successor to Dr. Wallner as Director General will also be confirmed at the Annual General Meeting. Dr. Stoss, a native of Vorarlberg, was formerly Chairman of the Board of Generali Versicherung AG. Prior to that he was Partner and Head of Division at the Management Zentrum St. Gallen in Switzerland, Deputy Chairman of the Board of Österreichische Postsparkasse AG and Board Director at Raiffeisen Zentralbank Österreich.

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Casinos Austria Casino Austria AG is the parent company of the Casinos Austria and Austrian Lotteries Group and has held concessions to operate twelve casinos in Austria since 1968. Every year, these casinos welcome more than 2.4 million guests and offer them the enjoyment of playing high-quality casino games in a stylish ambience.

Paul Herzfeld (51) will assume the role of Deputy Director General with effect from 3 November 2006. Mr. Herzfeld has been a Member of the Board of Casinos Austria AG since 1 July 2001 and a Member of the Board of Casinos Austria International since 1997.

Newly appointed to the Board with effect from 1 January 2007 is Dietmar Hoscher (44), currently Company Representative for Legal Issues and Public Affairs.

The remaining Member of the Board, Josef Leutgeb (45), was appointed to the Board of Directors of Casinos Austria AG on 1 January 2005 and has been a Member of the Board of Casinos Austria International since 1997.

Casinos Austria AG is the parent company of Casinos Austria International and the owner and operator of the 12 casinos in Austria. As of November 2006, the two companies together operated a total of 75 casinos in 18 countries and on board 10 cruise liners, with two further casinos also under development in Serbia and Chile. In 2005, the two companies posted revenues (wins, registered tips, entrance) of 1.17 billion euro (+17.1 ), welcomed a total of 18.5 million guests (+6.9 ) and employed around 10,400 staff (+13 %).

Austria
Casinos in Austria and Switzerland

Casino Austria Swiss Ag Symbol

Austria
In Austria, as in Germany, gambling operations are a state monopoly. All of the 12 state-run gambling casinos in Austria are operated as concessions by a single company: Casinos Austria AG. Most of the casinos in Austria are located in tourist and resort areas such as Bregenz, Kitzbühel, Salzburg and Baden, but also in Vienna and Graz.
Only a day after its 2010 ruling against Germany, the European Court of Justice also ruled against Austria in a similar case. The court criticized the Alpine republic for its gambling monopoly and its failure to open up casino operations to competitive bidding. Casinos Austria AG was licensed to run all of Austria’s casinos without any competitive bids. It also has gambling interests in 17 countries and on cruise ships through its Casinos Austria International (CAI) subsidiary. Once a cash cow, CAI has lost money in recent years. Casinos Austria AG also holds a 68 percent interest in the Austrian lottery.
In response to the financial difficulties faced by its casinos, the Austrian government reduced the casino tax (die Spielbankabgabe) from 48 percent to 30 percent in 2010.
Switzerland
Although it had gambling casinos in the 1800s and up until 1928, Switzerland banned casinos and wagers over five Swiss francs until 1992. At first only slot machine halls (Kursäle) were permitted. It took eight years for the Swiss cantons and the federal government to draw up laws that finally authorized real gambling casinos in 2000. After losing revenue to neighboring countries that had casinos (Austria, Italy, France), the Swiss established two kinds of casinos: A-casinos and B-casinos.
An A-casino is licensed to offer a full range of table games and slot machines. An A-casino can also network its slots within the casino and with other A-casinos in order to provide super jackpots. Usually called a Grand Casino, A-casinos are found in Baden, Basel, Bern, Lucerne, Lugano, Montreux and St. Gallen.
B-casinos are licensed for no more than three types of table games (with lower betting limits than A-casinos) and no more than 150 slot machines. B-casinos are found in Davos and St. Moritz (both where one might expect A-casinos!), Fribourg, Geneva (Casino du Lac), Locarno, Pfäffikon-Zürichsee, Schaffhausen, Zermatt and other locations.