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.