Groupe Partouche GGR hits €341m in H1

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Groupe Partouche reported gross gaming revenue (GGR) of €341.0m (£293.9m/$373.4m) for its half-year results, for the period between November 2022 and April 2023.

This was up by 17.6% year-on-year compared to Groupe Partouche’s H1 2022 GGR.

Turnover for the period was €215.6m, up by 15.2%.

Groupe Partouche said that the total operating income for the six months – which was €19.3m – rose by 99.0% due to a number of factors.

One of these was the improvement in activity at Pasino Grand, a Partouche casino in the city of Aix-en-Provence in France. It generated €2.1m in operating income for the half-year.

This was the casino’s first “normal half-year of activity” since renovations ended in April 2019.

In addition, Groupe Partouche pointed to the “excellent performance” of online gaming in Switzerland during the period, which is sitting at €500,000 in operating income for 2023 compared to €3.5m in 2022.

Half-year results

The decline from €215.6m in turnover and €19.3m in operating income was due to a number of expenses.

Purchases and external expenses totaled at €70.7m, a rise of 16.5% year-on-year. But the biggest expense of the half-year was related to employee costs, which added up to €87.4m – up by 6.7%.

Depreciation, amortisation and impairment of fixed assets added up to €24.5m, which was a decline of 6.5%. Meanwhile, tax and duties came to €9.6m – down by 5.8% – while other operating expenses hit €4.2m.

Other non-current income and operating expenses hit €700,000. This brought the total operating income at €20m, a decline of 26.2% year-on-year.

But financial income of €1.5m reduced the income tax once again, resulting in pre-tax income of €18.6m.

Follwing corporate income tax at €1.0m, and CVAE tax at €700,000, the post-tax income was €18.9m, down by 23.5%.

After shares in equity-accounted associates earnings at €100,000, the total net income for the half-year was €18.8m, a decline of 23.3% yearly.

Earnings before interest, tax, depreciation and amortisation (EBITDA) hit €42.7m for the six months, up by 24.6%.

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