Revenue in Q2 – covering the three months to 30 April – was ahead of €169.1m in the same period last year. Groupe Partouche noted growth across both its casino and hotel operations during the quarter.
Beginning with casino, this segment was helped by the reopening of two venues in France. Lyon Vert casino has been transformed into the Pasino Grand-La Tour Salvagny after a two-year renovation project costing €2.1m.
Groupe Partouche also referenced the partial reopening of Annemasse Casino. The venue has been undergoing renovations since October 2022 at a cost of €8.1m. In January, phase one of the project completed, allowing the area that houses slot machines to reopen.
In other casino news, Groupe Partouche has sold a 40.0% stake in Cannes Centre Croisette to Palm Beach Exploitations. Cannes Centre Croisette operates Casino 3.14 in Cannes, with the venue now set to under extensive renovations over the coming summer months.
As for the hotels segment, this was also helped by the reopening of the two locations, with each site also featuring hotel facilities.
Swiss online gambling growth in Q2
In terms of geographical performance in Q2, some €154.8m of gross gaming revenue came from operation in France. This is up 1.7% year-on-year, helped by higher revenue from the reopened venues.
In France, slots revenue was 2.5% higher at €124.6m, although table games revenue fell 1.4% to €30.2m.
Looking outside France, revenue from operations in other countries increased by 11.5% to €18.9m. This, Groupe Partouche says, was helped by a 48.9% rise in revenue from online gambling in Switzerland. The group operates the Pasino.ch brand in the country.
Groupe Partouche also notes the impact of a 31.7% rise in revenue from its Middelkerke casino in Belgium.
Turnover tops €101.9m
The group did not publish a full breakdown of figures for Q2. However, it did reveal certain other financial results.
These include levies payments, which totalled €92.2m, an increase of 2.6%. This resulted in net gaming revenue of €81.5 up 2.8% on the previous year, with an additional €21.7m in other turnover was also noted.
After also accounting for fidelity programme costs, consolidated turnover for Q2 hit €101.9m, a rise of 2.6%. Of this, €93.4m came from casino operations, €6.5m hotels and €2.0m other activity.
Q2 success pushes Groupe Partouche to growth in H1
Growth in Q2, coupled with earlier increases in the first quarter, meant higher revenue for the first half. For the six months to the end of April, gross gaming revenue was 1.7% higher at €346.9m.
Levies payments totalled €167.2m, leaving €179.7m in net gaming revenue, up 2.1%. Groupe Partouche also reported €42.4m in other turnover and fidelity programme costs of €1.4m.
As such, this left €220.6m in total consolidated turnover for the period, up by 2.3% year-on-year. This includes €203.8m from casino operations, €12.7m hotels and €4.1m other activity.
Original article: https://igamingbusiness.com/finance/quarterly-results/overseas-growth-pushes-revenue-up-in-q2/
