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

By | December 15, 2021

Good activity resistance despite 6 ½ months of casino closures
4th quarter turnover (August – October): +0.5%1
Yearly turnover: -25.6%

Paris, 15th December 2021, 06:00 pm – 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).

Stable activity during the 4th quarter

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.

Upcoming events:

Income of fiscal year ended 31st October 2021: Wednesday 26th January 2022, after stock market closure.

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


1Consolidated turnover

In €M 2021 2020 Variation
1st quarter (November to January) 23.5 126.7 -81.4%
2nd quarter (February to April) 23.6 56.9 -58.4%
3rd quarter (May to July) 114.2 66.0 +73.1%
4th quarter (August to October) 94.3 93.9 +0.5%
Total consolidated turnover 255.7 343.5 -25.6%

2- Construction of consolidated turnover

2.1 – 4th quarter

In €M 2021 2020 Variation
Gross gaming revenue (GGR) 148.7 155.0 -4.1%
Levies -75.5 -78.0 -3.2%
Net gaming revenue (NGR) 73.1 77.0 -5.0%
Turnover excluding NGR 21.9 17.Fideli +25.2%
Fidelity programme -0.7 -0.6 +27.4%
Total consolidated turnover 94.3 93.9 0.5%

2.2 Aggregate 12 months

In €M 2021 2020 Variation
Gross gaming revenue (GGR) 350.2 525.7 -33.4%
Levies -134.2 -242.8 -44.7%
Net gaming revenue (NGR) 215.9 282.9 -23.7%
Turnover excluding NGR 41.1 62.7 -34.4%
Fidelity programme -1.4 -2.2 -38.1%
Total consolidated turnover 255.7 343.5 -25.6%

3 Breakdown of turnover by activity

3.1 – 4th quarter

In €M 2021 2020 Variation
Casinos 85.9 82.4 +4.3%
Hotels 3.1 2.0 +58.3%
Other 5.3 9.5 -44.5%
Total consolidated turnover 94.3 93.9 0.5%

3.2 Aggregate 12 months

In €M 2021 2020 Variation
Casinos 206.9 309.3 -33.1%
Hotels 6.2 4.6 +33.7%
Other 42.6 29.5 +44.3%
Total consolidated turnover 255.7 343.5 -25.6%

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. 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.

1 Note: variations are calculated with respect to the same reference period of the previous year, unless otherwise stated.
2 As already announced, Groupe Partouche no longer has the management of the Ostend casino since 29th July 2021.
3 As a reminder, on 18th October 2021, the Group announced that it had entered into a transfer agreement covering all of the 57% of the shares it holds in Crans-Montana Casino (Switzerland). This sale should be finalized by the end of January 2022.


  • Turnover – Q4 2021

Powered by WPeMatico

Leave a Reply

Your email address will not be published. Required fields are marked *