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GROUPE PARTOUCHE: Turnover 2nd quarter: € 89.1 M – Good upturn in the activity at the end of the quarter

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GROUPE PARTOUCHE: Turnover 2nd quarter: € 89.1 M - Good upturn in the activity at the end of the quarter
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Groupe Partouche, one of the European gaming leaders, published today its consolidated turnover for the 2nd quarter of 2022 (February 2022 – April 2022)

As a preamble, let it be reminded that during the 2nd quarter of the previous financial year “2021” (February 2021 to April 2021), all French casinos were closed under the general measures taken by the Government to deal with the Covid-19 pandemic. Abroad, the casino in Ostend (Belgium) also remained closed. The Swiss casinos of Meyrin and Crans-Montana were able to welcome again their customers with no curfew, as from 19th April 2021, but while respecting health constraints. The Djerba casino (Tunisia) remained open but constrained by a curfew starting at 10 p.m. Swiss online games, deployed on 16th November 2020, and Belgian online games and betting were active throughout the quarter.

All casinos are open during the 2nd quarter of the year under review (February 2022 to April 2022), but continue to suffer from the health constraints in place, which affect their attendance:

  • In France, the “vaccination pass”, introduced on 24th January 2022, remained in force until 13th March 2022 included, limiting customers’ access to the casinos;

While attendance is thus down (-19.7%) compared to the 2nd quarter of 2019 (February 2019 to April 2019, last period excluding the Covid crisis), the average basket increased by +20.8% to € 89 on the same period (with a French GGR down -4.0%). It should be noted that the drop in attendance has eased since the lifting of the vaccination pass (-13.7% between 14th March and 30th April 2022 compared to the same period in 2019).

  • In Switzerland, the presentation of the “vaccination pass” has been lifted as from 17th February 2022.

In addition, the 2nd quarter 2022 takes into account the scope effects especially related to:

  • the disposal on 31st January 2022 of the stake held in the Crans-Montana casino (GGR of € 3.3 M in the 2nd quarter of 2019, the casino being closed in Q2 2020 and for most of Q2 2021),
  • the cessation of the online games and betting in Belgium and of the management of the Ostend casino since 29th July 2021 (during the 2nd quarter of 2021, the GGR in Belgium amounted to € 22.8 M and to € 11.5 M in the 2nd quarter of 2020).

Turnover 2nd quarter 2022: 89.1 M

Taking into account the aforementioned items, the Gross Gaming Revenue (GGR) stands at € 148.2 M during the 2nd quarter of 2022 compared to € 25.1 M in 2021. Particularly, the ramping up of the Swiss online games whose GGR amounts to € 3.3 M compared to € 1.1 M in the 2nd quarter of 2021, should be noted. After levies, the Net Gaming Revenue (NGR) triples to € 70.8 M (compared to €22.0 M in N-1).

Overall, revenue for the 2nd quarter 2022 amounts to € 89.1 M, compared to € 23.6 m in 2021 (x3.8) and € 105.3m in 2019, down -15.4 %. Off-gaming activity generates revenue of € 18.7 M compared to € 1.6 M in N-1 (x11.7) and € 22.2 M in 2019, due to the reopening of all of the Group’s activities.

Overall, at a constant scope, the turnover for the 2nd quarter 2022 records a limited decline of -6.2% compared to the comparable period of 2019 pre-Covid.

Turnover 1st half-year 2022: 187.2 M (compared to € 47.2 M in 2021)

At the end of April, the aggregate turnover for 6 months quadruples and amounts to € 187.2 M, with a tripled Net Gaming Revenue amounting to € 153.4 M, in a dynamic climate of business development initiated since the end of the constraints linked to the vaccination pass. Overall, at constant scope, revenue for the 1st half of 2022 is down -8.5% compared to the same period of 2019 pre-Covid.

End of renovation works in Hyères

After a long period of refurbishment, largely disrupted by the Covid-19 pandemic, the Hyères casino reopened in its entirety on Wednesday 15th April. The games room has been completely redesigned and now covers 1,500 m². The outdoor terrace, equipped with slot machines and an electronic roulette, contributes to the comfort of the players. Upstairs, a restaurant with a hundred seats, including private spaces, has been created. A new entrance, distinct from that of the casino, has been specifically created for the adjoining theatre hall.

Responsible gaming

In April 2022, the National Gaming Authority (ANJ – validated Groupe Partouche’s 2022 action plan “Prevention of excessive or pathological and underage gambling”, highlighting in particular the ambition and the quality of its content, associated with the innovation of specific devices.

The Group’s prevention policy, as a committed player in the fight against excessive gambling, aims to ensure that gaming remains an entertainment and that our customers today are our customers tomorrow.

This quality support is an integral part of our mission. Each of our employees contributes to its success, through its involvement, through the dedicated training courses developed internally and through the many tools made available.

Sustainability-linked loan

In February, Groupe Partouche signed its very first sustainability-linked loan with Arkéa Banque. The applicable interest rate is adjustable downwards (and upwards within the limit of the initial rate) according to an extra-financial score established by an extra-financial analysis and consulting agency, EthiFinance. The criteria are broken down into three themes: environment, social and governance. Groupe Partouche is firmly rooted in its SER (social & environmental responsibility) approach.

Upcoming events:

Income 1st quarter: Tuesday 28th June 2022, after stock market closing

3rd quarter financial information: Tuesday 13th September 2022, after stock market closing

Groupe Partouche was established in 1973 and has grown to become one of the market leaders in Europe in its business sector. Listed on the stock exchange, it operates casinos, a gaming club, hotels, restaurants, spas and golf courses. The Group operates 42 casinos and employs nearly 3,900 people. It is well known for innovating and testing the games of tomorrow, which allows it to be confident about its future, while aiming to strengthen its leading position and continue to enhance its profitability. Groupe Partouche was floated on the stock exchange in 1995, and is listed on Euronext Paris, Compartment B. ISIN: FR0012612646 – Reuters: PARP.PA – Bloomberg: PARP:FP


1- Consolidated turnover

In €M 2022 2021 Variation 2022/2021 2019
1st quarter 98.1 23.5 x4.2 116.6
2nd quarter 89.1 23.6 x3.8 105.3
Total consolidated turnover 187.2 47.2 x4.0 221.9
Variation constant scope vs 2019 8.5%

2- Construction of consolidated turnover

2.1 – 2nd quarter

In €M 2022 2021 Variation 2022/2021 2019
Gross Gaming Revenue (GGR) 148.2 25.1 x5.9 168.1
Levies -77.4 -3.1 x24.6 -84.3
Net Gaming Revenue (NGR) 70.8 22.0 x3.2 83.8
Turnover excluding NGR 18.7 1.6 x11.4 22.2
Fidelity Programme -0.5 0.0 -0.8
Total consolidated turnover 89.1 23.6 x3.8 105.3

2.2 – Aggregate 6 months

In €M 2022 2021 Variation 2022/2021 2019
Gross Gaming Revenue (GGR) 290.0 50.0 x5.8 329.4
Levies -136.6 -5.8 x23.7 -150.0
Net Gaming Revenue (NGR) 153.4 44.3 x3.5 179.4
Turnover excluding NGR 35.2 2.9 x12.2 44.2
Fidelity Programme -1.4 0.0 -1.6
Total consolidated turnover 187.2 47.2 x4.0 221.9

3- Breakdown of consolidated turnover by activity

3.1 – 2nd quarter

In €M 2022 2021 Variation 2022/2021 2019
Casinos 81.6 12.4 x6.6 96.4
Hotels * 5.1 0.3 x16.4 1.6
Other 2.4 10.9 -78.0% 7.2
Total consolidated turnover 89.1 23.6 x3.8 105.3

3.2 – Aggregate 6 months

In M€ 2022 2021 Variation 2022/2021 2019
Casinos 173.5 24.5 x7.1 205.5
Hotels * 9.0 0.5 x17.4 2.8
Other 4.7 22.2 -78.7% 13.5
Total consolidated turnover 187.2 47.2 x4.0 221.9

* Since 01/10/2021, the revenues of the St Amand, Forges and Divonne hotels have been moved to the Hotels activity from the Casinos activity for the first two and from the Other activity for Divonne.

4– Glossary

The “Gross Gaming Revenue” corresponds to the sum of the various operated games, after deduction of the payment of the winnings to the players. This amount is debited of the “levies” (i.e. State tax, the city halls tax, CSG, CRDS). The «Gross Gaming Revenue» after deduction of the levies, becomes the “Net Gaming Revenue “, a component of the turnover.

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