Home Finance Groupe Partouche’s revenue reaches EUR173.7m during Q2 due to growth overseas

Groupe Partouche’s revenue reaches EUR173.7m during Q2 due to growth overseas

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Groupe Partouche, a French casino operator, reported an increase of 2.7% in its gross gaming revenues to EUR173.7m in the second quarter of this year (PS146.4m/$186.8m). This was largely due to two casinos being reopened.

The revenue for Q2, which covers the period from 30 April to the end of the quarter, was EUR169.1m higher than the previous year’s same-period figure. Groupe Partouche reported growth in both casino and hotel operations.

The reopenings of two casinos in France helped this sector. After a EUR2.1 million two-year refurbishment project, the Lyon Vert Casino has become Pasino Grande-La Tour Salvagny.

Groupe Partouche has also mentioned the partial reopening at Annemasse Casino. Since October 20, 2022, the venue is undergoing renovations at an estimated cost of EUR8.1m. Phase one of the project was completed in January and allowed the slot machine area to be reopened.

Groupe Partouche sold 40.0% of Cannes Centre Croisette’s shares to Palm Beach Exploitations. Cannes Centre Croisette is the operator of Casino 3.14, which will undergo extensive renovations in the summer.

The re-opening of both locations with hotel amenities at each location also contributed to the success in the hotels sector.

Swiss Online Gambling Growth in Q2

France accounted for EUR154.8m in gross gaming revenues in the second quarter. The revenue is 1.7% higher than the previous year, thanks to increased revenues from reopened casinos.

Table games revenues fell by 1.4% in France to EUR30.2m. Slots revenue increased 2.5%, reaching EUR124.6m.

Outside France, the revenue generated by operations outside France increased 11.5% from EUR18.9m to EUR18.9m. Groupe Partouche claims that the 48.9% increase in online gambling revenue in Switzerland was a major factor in this. In Switzerland, the group runs the Pasino.ch website.

Groupe Partouche notes that its Middelkerke Casino in Belgium has seen a revenue increase of 31.7%.

The Turnover Tops EUR101.9m

It did not release a complete breakdown of the figures for Q2. The group did, however, reveal some other financial results.

Levy payments totaled EUR92.2m (an increase of 2,6%). The net gaming revenues were EUR81.5, up 2.8% from the year before. An additional EUR21.7m was noted in other revenue.

In Q2, the consolidated revenue reached EUR101.9m after accounting for costs associated with fidelity programmes. This represents a 2.6% increase. EUR93.4m of this came from the casino, EUR6.5m was hotels, and EUR2.0m, other activities.

Groupe Partouche grows in H1 thanks to Q2’s success

The first-half revenue was higher due to the growth in the second quarter and the earlier increase in the first. Gross gaming revenues were 1.7% higher in the six-month period ending April.

The total amount of levies paid was EUR167.2m. This left EUR179.7m as net gaming revenues, an increase of 2.1%. Groupe Partouche reported EUR42.4m of other turnover costs and EUR1.4m for fidelity program costs.

This leaves EUR220.6m as the total turnover for this period. The increase is 2.3% on an annual basis. The total turnover for the period was EUR220.6m, an increase of 2.3% year-on-year. This included EUR203.8m in casino operations and EUR12.7m in hotels.

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