Group net revenue was at EUR 164.1m, down from EUR 173.4 in the year before.

The core company posted an operating profit of EUR 2.3m but ended the year with a EUR 1.7m net loss on revenue of EUR 149.2m.

According to Piciga, expenses dropped EUR 14m year-on-year to EUR 116m and outstanding debt was down EUR 15m to just under EUR 100m.

The number of casino guests hit 1.3 million, down 4% year-on-year, whereas the number of overnight stays rose 4% to 143,000.

Piciga said the results were good and said figures for the first three months of this year showed a continuation of the positive trend.

He estimates Q1 group operating profit at EUR 0.7m, though the group posted a net loss of EUR 0.9m after it paid gaming licences.

"Business will stabilise this year, I expect a positive result at the end of the year," he told the press.