Groupe Partouche Q1 Revenue Sees Slight Rise
Date: 2024-03-13 Author: Dima Zakharov Categories: CASINO
Revenue Growth and Breakdown
Groupe Partouche, a prominent casino operator based in France, disclosed a 0.7% uptick in revenue for Q1, totaling €171.9 million. This increment is attributed to a 1.4% rise in net gaming revenue compared to the previous year.
Domestic Operations Remain Stable
Within France, the core market for Groupe Partouche, activities accounted for €153.8 million of total revenue. Notably, revenue from slot machines experienced a 1.4% increase, reaching €121.2 million. However, revenue from table games saw a slight decline of 5.2% to €32.5 million.
International Expansion Shows Promise
Beyond France, Groupe Partouche's operations saw a noteworthy increase in revenue, reaching €19.4 million, marking a 7.3% growth from Q1 of the preceding year. The surge was primarily driven by operations in Switzerland, with online activities registering a remarkable 52.8% growth, although revenue from slot machines decreased by 7.5%.
Positive Trends in Net Gaming Revenue
The quarter also witnessed a 1.4% increase in net gaming revenue, totaling €98.1 million, after accounting for levies amounting to €75.0 million. Furthermore, turnover, excluding net gaming revenue, rose by 4.0% to €21.3 million.
Diversification and Partnership Initiatives
Amidst these financial developments, Groupe Partouche announced a strategic partnership with Julien Manival, aiming to expand its hospitality and entertainment ventures. The collaboration will birth a new entity, Must Group, focusing on providing unique experiences blending culinary artistry, innovation, and entertainment.
Exciting Ventures on the Horizon
Initial endeavors under this partnership include the acquisition and refurbishment of a restaurant in Paris, slated to open its doors in the forthcoming year. Additionally, plans are underway to revamp a beachfront restaurant in Cannes, underscoring Groupe Partouche's commitment to diversified growth strategies.
