Groupe Partouche Reports Impressive 10.2% Revenue Growth in 2023

Groupe Partouche, a leading player in the French gaming industry, has reported a significant year-on-year increase in gross gaming revenue (GGR) for 2023. The company's GGR reached an impressive €701.5 million, surpassing the previous year's figure of €636.7 million. It's important to note that the figures from 2022 were impacted by the ongoing pandemic, with restrictions affecting operations until March of that year.

The growth in GGR for 2023 can be attributed to several key sectors. Slot machines saw a 7.6% increase in GGR, electronic traditional games in France climbed by 20.3%, and online games GGR in Switzerland experienced a substantial 41.6% year-on-year increase.

Despite the strong revenue growth, Groupe Partouche faced increased expenses in various areas. Employee expenses rose to €177.2 million, a 5.5% increase, while purchases and external expenses jumped by 16.9% to €142.6 million. The current operating profit for the year showed an 18.3% increase, reaching €27.4 million. However, certain income from the previous year was not present in 2023, resulting in a 32.7% decrease in operating profit.

After accounting for finance costs and taxes, Groupe Partouche reported a net profit of €23.4 million for 2023, which represents a significant drop of 37.0% compared to the previous year.

On a positive note, the company's EBITDA increased by 0.7% to €76.1 million for the full year.

Groupe Partouche also provided an update on its online casino partnership in Belgium. In collaboration with Betsson, they gained access to the country's icasino market through the acquisition of Betfirst Group. The partnership, initially focused on Belgium, has received the necessary license to offer online casino games, effective from January. Additionally, Groupe Partouche's Casino Middelkerke will relocate to a seafront location in March 2024, marking an exciting development in their Belgian operations.