News Feature
Leisure company 'to establish itself in Croatia on back of increasing tourism'
24 June 2008
Casino, marina and leisure company Cubus Lux is set to further establish itself in Croatia as a result of last year's acquisition of the Olive Island resort on the Dalmatian coast and growing tourism in the country.
It has been taking advantage of some of the lowest gaming taxes in Europe to significantly enhance its leisure facilities in the county, City AM reports.
The website revealed the company's annual results for the year up to March - which posted a pre-tax profit of £4.9 million - are likely to be rendered meaningless following the Olive Island deal.
Gerhard Hubert, executive chairman of Cubus Lux, told the website its operations are beginning to mature following a period of reconstruction.
"Furthermore, the Olive Island transactions and projects have transformed our balance sheet and provide a strong foundation for the company's future development."
Meanwhile, the Croatian tourism ministry has suggested the number of visitors to the country could grow by three per cent this year.
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