France – Increased spending per capita compensates for Partouche’s lower attendance.

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France

Although attendance was still hampered by health controls, the reopening of all casinos in France resulted in a dramatic increase in expenditure per head for Groupe Partouche in the first quarter.

Gross Gaming Revenue (GGR) was €141.8 million, up from €24.9 million in 2021, when all French casinos were shuttered as part of the government’s overall response to the coronavirus pandemic Covid-19. The increase was aided by the significant growth of Swiss online games, which totaled €3.2 million in the first quarter of 2021, up from €0.6 million in the previous quarter.

While all of the group’s casinos are open again, they continue to be hampered by health restrictions, which have reduced attendance by 33% compared to the first quarter of 2020 (November 2019 to January 2020), which was the last pre-pandemic operating period. However, the average spend per head increased by 30.3 percent to €94 during the same period.

This first quarter also includes an effect on the scope of consolidation related to the cessation of online games and bets in Belgium, as well as the cessation of the management of the Ostend casino, effective July 29, 2021. The casino was closed in the first quarter of 2021, however online games and sports betting generated €23.7 million and €13.6 million in the first quarter of 2020, respectively.

The proceeds from the sale of the group’s shares in the Crans-Montana casino will be reinvested, according to the company.

Partouche, on the other hand, missed out on the Le Laurent restaurant’s refurbishment. The firm stated: The City of Paris awarded the concession for the Le Laurent restaurant to another operator, the offer submitted by Groupe Partouche, which aimed to integrate its gaming club within the establishment, having been considered irregular by the City. Groupe Partouche reserves the right to contest this decision. As a reminder, the annual contribution to turnover and EBITDA for the 2019 pre-pandemic financial year (November 2018 to October 2019) amounted to €5.2m and -€ 1.1m respectively.”

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Nassima Azmzm

Nassima Azmzm

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