Casino renovations holds back Groupe Partouche full-year gaming revenue

The French casino operator saw its gaming revenue for 2024 rise only slightly against last year.

France.- The French casino operator Groupe Partouche has reported full-year revenue of €712.3m for November 2023 to October 2024. That’s up just 1.5 per cent against 2023, held back by the partial closure of three land-based casinos that are under renovation.

Land-based casinos remain the biggest contributor to the group’s revenue, generating €391.5m. That’s a rise of 2 per cent year-on-year. Hotel revenue was up 11 per cent at €31.2 million while other revenue fell 2.5 per cent to €11.6m.

As for the verticals at casinos, electronic games revenue was down by 1.4 per cent, electronic table games revenue was down by 0.7 per cent and traditional games revenue fell by 2.5 per cent. This was due to renovation works at Partouche’s three biggest properties – in Annemasse, Divonne and La Tour-de-Salvagny. On December 2, Groupe Partouche opened the new Casino Royal Palm, relocating its Cannes casino to Palm Beach.

Meanwhile, slot machines throughout France generated €636.1m, a rise of 1.5 per cent.

In international markets, gross gaming revenue was up 7.3 per cent at €76.3m, aided by Meyrin casino in Switzerland and a favourable exchange rate. Traditional games contributed €36.8m, up 23.8 per cent, and Swiss online gaming revenue rose 34.5 per cent to €23.6m. Gaming revenue from the Middelkerke casino in Belgium rose by a third.

The group paid €373.7m in tax, resulting in net gaming revenue of €338.7m. Consolidated turnover was €434.3m, up 2.5 per cent.