Gross gaming revenue (GGR) for Q1 was marginally ahead of €171.9m at Groupe Partouche in the previous year. The first-quarter period covers the three months to the end of January 2024.
Activities in the operator’s native France accounted for €153.8m of all GGR in Q1, with this stable year-on-year. Slots GGR increased 1.4% to €121.2m, although GGR from table games – both electronic and non-electronic – slipped 5.2% to €32.5m.
As for operations outside France, Groupe Partouche said GGR hit €19.4m, 7.3% higher than in Q1 of last year. It referenced operations in Switzerland in particular, with GGR from online activities in the country up 52.8%, although slot machine GGR slipped 7.5%.
Turnover and net gaming growth in Q1
Accompanying a rise in GGR was an increase in net gaming revenue. For the quarter, Groupe Partouche said net gaming revenue was 1.4% higher at €98.1m. This figure was calculated after taking off €75.0m in levies paid during Q1.
Turnover excluding net gaming revenue was 4.0% higher at €21.3m, while the operator also noted €700,000 in fidelity programme costs.
As for total consolidated turnover, this edged up 2.0% to €118.7m for Q1, with most of this coming from casino operations.
Casino turnover was 1.4% higher at €110.4m, although the most growth was from the hotels business, with turnover rising 19.4% to €6.2m. In contrast, other revenue declined 6.1% to €2.1m in Q1.
The growth follows a successful 2023 financial year for the group, during which GGR climbed 10.2% to €701.5m. Net gaming revenue for the year was up 9.0% to €332.9m and group turnover 9.0% to €423.8m.
Groupe Partouche seeks to grow hospitality business
While the operator did not disclose further financial figures at this time, it did announce details of a new partnership.
Groupe Partouche will now work with Julien Manival, owner of Group Bonne Compagnie, which operates seven venues across the Occitane region of France. The partnership will establish a new venture, Must Group, specialising in hospitality and entertainment.
“The objective is to offer to a wide audience a unique experience, merging culinary passion, innovation and entertainment in a modern and festive approach,” Groupe Partouche said.
Initial steps for the new venture include the acquisition of a restaurant in Paris, which will open early next year. In addition, the two companies will redevelop a beachfront restaurant in Cannes.
Original article: https://igamingbusiness.com/finance/quarterly-results/revenue-up-in-q1-at-groupe-partouche/
