Closures harm Groupe Partouche revenue for FY 2021
Groupe Partouche’s gross gaming revenue (GGR) for the 2021 fiscal year was €350
Groupe Partouche’s porcine gaming revenue (GGR) for the 2021 fiscal twelvemonth was €350.2m ($391m), pull down 33.4% from FY 2020.
In a review of the Daniel Chester French cassino operator’s financial carrying into action for the 12-month period, the society credited its real losses to the Covid-19 pandemic.
For more than half of the year, Groupe Partouche experient closures which had a important contrary wallop on its business. With some exceptions, all of the company’s casinos were closed in(p) for about 6.5 months.
Consequently, almost all concern segments suffered a decline. Groupe Partouche’s slots GGR drop past nearly 42%, patch revenue from tabulate games dropped past 10%.
Only the GGR from tabularize games abroad experient an increase. This rosaceous past almost 40%, driven past a jump off inwards online gaming and sports betting in Belgium.
“The 2020/21 fiscal year was really strongly wedged past the wellness crisis linked to the Covid-19 pandemic, which forced the aggroup to kibosh most of its activities o'er a point somewhat yearner than the 1st half of the fiscal year, below the superior general measures taken past the governance to deal with the pandemic,” said Groupe Partouche.
The closures’ gist was so high-risk that 82% of the company’s consolidated turnover was generated inward the sec half of the year.
However, inwards what Groupe Partouche called a “contrasting year”, its performance inwards H2 was markedly improved. The company’s EBITDA for H2 was €55m, upwards from €51.2m for the prior year.
Likewise, the closures, alongside business organization bread and butter measures, led to a reduction inward expenses. Materials, marketing and maintenance costs experient a 34% drop, spell employee expenses were down past nearly 24%.
In its outlook for 2022, Groupe Partouche will resume investments, saying: “After two years of the pandemic and the cessation of investments, the chemical group is relaunching its computer program in order to enrich its tender and restitute its casino network.”