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GROUPE PARTOUCHE: Good activity resistance despite 6 ½ months of casino closures

 
Groupe Partouche, one of the European gaming leaders, published today its consolidated turnover for the 4th quarter 2021 (August - October 2021) and for the full fiscal year (November 2020 to October 2021).
INFOPLAY |
As a preamble, let us recall that the 4th quarter of the previous fiscal year had been greatly disrupted by the Covid-19 pandemic which had led to the gradual closure of all French casinos throughout the month of October 2020 until the full closure on 30th October 2020 at midnight. Abroad, the casino of Crans-Montana (Switzerland) closed its doors on 21st October 2020 and that of Ostend (Belgium) on 29th October 2020.

During the 4th quarter 2021, all casinos remained open, with however constraints weighing on their attendance:

France: on 21st July 2021, the "health pass" (Pass Sanitaire) became compulsory in all casinos welcoming more than 50 people, a measure extended without a minimum since 9th August. In addition, we note the end of free antigen and PCR tests as from 15th October 2021;
Abroad 2 : in Switzerland3, the health pass was introduced from 13th September 2021 and in Tunisia, a curfew (at 8 p.m., then at midnight from 18th August) was in place until 25th September 2021.

In 4th quarter 2021, Gross Gaming Revenue (GGR) reached € 148.7 M (-4.1%)

In France, in the 4th quarter, the GGR increased by + 7.2% to € 133.9 M compared to the same period a year earlier, mainly driven by the growth of slot machines (+ 8.6% to € 108.6 M). The GGR for traditional games recorded a more moderate increase of + 1.7% (to € 25.3 M) due to the decline in the GGR for electronic forms of games. In addition, if attendance has remained in decline since the introduction of the health pass last July, it recovered to -9.6% over the quarter and the average basket increased significantly from 70.0 € in the 4th quarter of 2020 to 83.0 € (+ 18.4%).

Abroad, the GGR, affected by the exit of the Ostend casino and its online games and sports betting, fell 51.0% to € 14.8 M. Without taking Ostend into account, the GGR would have risen sharply (+ 19.2%), which is mainly explained by the increase in Swiss online games, launched on 16th November 2020.

After levies, the 4th quarter Net Gaming Revenue (NGR) dropped by -5.0% at € 73.1 M. Revenue for the 4th quarter 2021 reached € 94.3 M, up by + 0.5%, after taking into account revenue from other activities.

Good resistance of annual turnover (-25.6% to € 255.7 M) despite more than 6.5 months of closure

In fiscal year 2021, the Group's casinos were closed for more than 6.5 months, compared to 3 months in the previous fiscal year. The GGR stood at € 350.2 M, down -33.4%. However, Groupe Partouche performed better than all the French casinos, whose decline, still provisionally reported by the employers' union "Casinos de France" came to -41.0%. After levies, the NGR reached €215.9M down -23.7%.

Overall, Groupe Partouche recorded an annual turnover of € 255.7 M, down -25.6% (- € 87.8 M) over one year. The decline in activity, inherent in the pandemic, will automatically lead to a decline in annual results.


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 41 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 . ISIN : FR0012612646 - Reuters PARP.PA - Bloomberg : PARP:FP Reuters : PARP.PA - Bloomberg : PARP:FP



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

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