Groupe Partouche revenue drops 25%
Total revenue for the year ending October 31 came to €255.7m.
France.- Groupe Partouche has reported total net revenue of €255.7m for the 12 months ending October 31, a drop of more than 25 per cent year-on-year.
Gross gaming revenue fell by a third to €350.2m, and net gaming revenue by almost a half to €215.9m, due to the impact of closures because of the Covid-19 pandemic.
Partouche casinos were closed for six-and-a-half out of the 12 months, more than twice the length of closure in the previous year.
Non-gaming revenue fell 34.4 per cent to €41.1m. The fourth quarter saw gross gaming revenue of €148.7m and €73.1m in net gaming revenue, down 4.1 per cent and 5 per cent year-on-year respectively.
France accounted for the majority of revenue, with online casino operations in Switzerland making the largest contribution from international revenue, which was impacted by the closure of Casino Oostende in Belgium.
Groupe Partouche said: “The decline in activity, inherent in the pandemic, will automatically lead to a decline in annual results.”
For the quarter ending July 31, the Groupe Partouche had reported a 38.8 per cent year-on-year rise in revenue to €151.5m, although that was still down 8 per cent down compared to the same quarter pre-pandemic in 2019.
This year, Groupe Partouche was looking at entering Japan’s future IR market in partnership with Clairvest Neem Ventures, but it was replaced by Caesars Entertainment.
