The Partouche Group experienced a resurgence in earnings during the third quarter, achieving €151.3 million – iGB
The Partouche Group’s total gaming earnings expanded by 38.8% annually in the third quarter ending July 31, with net income increasing significantly as gaming tax rates remained constant.
The Partouche Group’s revenue bounced back to €151.3 million in the third quarter.
Earnings for the three months ending July 31 were €151.5 million (£129.0 million/$178.3 million). While this figure was considerably higher than the third quarter of 2020, which was affected by the COVID-19 pandemic, it was down 8.0% compared to the third quarter of 2019.
Operations in France contributed the majority of revenue, reaching €112.3 million, an increase of 27.8%. While Partouche did not reveal revenue breakdowns for different game types, it did state that slot machine revenue in France increased by 28.4%, table game revenue increased by 24.9%, and electronic gaming revenue increased by 23.4%.
During the quarter, France eased some operating restrictions. At the start of the quarter, casinos were unable to operate, but from May 19, casinos were open at 35% capacity until a 9 pm curfew, with only slot machines and electronic table games permitted.
Table games were allowed from June 9, the curfew was pushed back to 11 pm, and then lifted on June 20. From July 21, entry to casinos required a “health pass” demonstrating vaccination.
Total gaming earnings outside of France grew by 84.2% to €39 million.
Swiss online betting earnings saw a dramatic rise, doubling due to a collaboration with live dealer expert Evolution, propelling revenue growth for the Partouche Group. Belgian gambling houses reopened on June 9th, while Swiss gambling establishments remained open throughout.
Tunisian gambling dens were only shuttered for a month, but the nation’s tourism sector was severely impacted by travel limitations.
Net betting income, after deducting gaming taxes and levies, grew even faster, increasing by 74.9% to €98.5 million. This considerable boost was due to the lower gaming tax system in France and the lower online betting tax rate in Belgium, leading to stable tax payments of €53 million.
The operator also generated €16.3 million in non-gambling income but paid €600,000 in loyalty program expenses, resulting in a final revenue of €114.2 million, an increase of 73.1%. This figure not only represented a significant increase over 2020 but also an 8.9% increase over 2019.
Of the €114.2 million, €96.5 million came from casinos, €3.1 million from hotels, and €37.3 million from other sources.
However, the operator did not provide specifics about its expenditures or final profits.
In the initial nine months of Partouche’s fiscal year (commencing November 1st), the operator’s net income was €161.4 million.
Partouche had applied for a permit to construct an integrated resort in Nagasaki Prefecture, Japan. However, it failed to be shortlisted among the top three finalists.
In the end, Austria International Casinos came out on top, but only after their rival, Oshidori International Holdings, pulled out due to “concerns about numerous ethical violations during the bidding procedure.”
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