Casino attendance drops despite an increase in the average basket
After a particularly difficult year in 2021, Partouche last Tuesday completed its business update for the first quarter of the 2021-2022 fiscal year. In it, it was learned that the casino, hotel and restaurant operator achieved consolidated revenues of €98.1 million between November 2021 and January 2022. This is well above the 23.5 million euros generated in the same period of the previous fiscal year. However, at that time, French casinos were closed in their entirety due to the Macron government’s political-sanitary measures.
Partouche: attendance impacted by health and liberticidal measures
During the first quarter of the current fiscal year, the Partouche group has noted that attendance at its casinos throughout France is still being affected by the health measures that are ruining the lives of so many French people (health pass, vaccination pass, antigenic and PCR tests for a fee, etc.). These measures should end in mid-March. But they could come back with a vengeance after the presidential elections. More concretely, attendance is down sharply (-33%) compared to the first quarter of 2020.
However, although the political-sanitary measures are weighing on no less than 15 million French people at the moment, Partouche noted that the average basket has increased by 30.3 (approximately €94) over the same period. This means that customers who visit Partouche casinos are spending more than usual.
Revenue of €98.1 million in the first quarter of 2022
Partouche’s revenue for the first quarter of 2022 amounted to €98.1 million. Gross gaming revenue (GGR) was €141.8 million for the same period, compared with €24.9 million year-on-year.
It should be noted that the very strong growth of Swiss online gamesThe PBJ is €3.2 million compared to €600,000 in Q1 2021. After deductions, Net Gaming Revenue (NGR) reached €82.5 million. This is a very strong increase compared to the €22.3 million recorded a year earlier.
Early Repayment of State Guaranteed Loan
Finally, it should be noted that Partouche was granted an initial 19.5 million State Guaranteed Loan (SGL) in June 2020. Ideally, the group wanted to amortize this loan over a maximum period of six years before taking out a second, larger loan for an amount of €59.5 million. 59.5 million. However, the very favorable cash flow situation of the Partouche Group will enable it to repay its second EMP in full by April 15, 2022.
