Groupe Partouche praised continued “momentum” from the final half of the previous financial year after publishing turnover of €215.6m in its H12023 financial report, a YoY increase of 15.2 per cent.
After reviewing the management report of its executive board, the French casino operator, which holds both land-based and online operations in countries such as Switzerland, and Belgium, published the company’s half-year financial statistics from November 2022 to April 2023.
Outlining that the results prove a “return to normal activity” since the pandemic restrictions were lifted earlier last year, the company published GGR of €341m, a 17.6 per cent uptick on H12022’s figures.
Meanwhile, the operator witnessed a 24.6 per cent increase in EBITDA to €42.7m, representing 19.8 per cent of the firm’s turnover, compared to H12022’s €34.2m.
Partouche’s current operating income came in at almost double the previous year’s H1 figures of €9.7m, sitting at €19.3m. The firm attributed this performance to an improvement in COI at the Pasino establishment in Aix-en-Provence, which increased by €2.5m.
Additionally, the firm suggested that its online casino operations in Switzerland had supported the strong COI performance, which was close to evening out at -€500,000 compared to -€3.5m in H12022.
However the company did find some downwards movement in its Hotels and ‘Other’ sectors, which published deficits of -€2.3m (H12022: -€1.8m) and -€5.4m (H12022: €4.6m) respectively.
Net income also came in with a slight decrease, sitting at €18.8m compared to the year prior’s €24.6m.
The firm suggested that the 30.85 per cent fall was due to H12022 being significantly impacted by Partouche’s sale of its stake in the Swiss Crans-Montana casino for €14.4m, as well as the “resolution of old disputes against the Belgian State” for €3.4m in that period last year.
Despite slight downfalls in these areas, Groupe Partouche stated that “the financial structure of the group is extremely healthy and solid”, while suggesting that levies of €127.8m, equity of €369m and net debt of €38.6m support the claim.
Partouche also outlined that due to its financial performance the company can begin restructuring at several properties, citing that its Divonne casino will have “a completely renewed space” with new gaming rooms, bars, restaurants and more.
Elsewhere, the company also suggested it has begun the restructuring of its Vichy-based property to expand the property’s gaming room and complete a renovation of its restaurant, bar and entrance hall areas.
