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French casino operator Groupe Partouche has reportedly announced that its aggregated gross gaming revenues for the twelve months to the end of October declined by some 21.8% year-on-year to €525.7 million ($635 million) as a direct result of ongoing coronavirus pandemic.
According to a report from G3Newswire, the Paris-headquartered firm is responsible for some 40 casinos spread across France including the 3.14 Casino in Cannes as well as the ‘outdoor’ Casino de La Ciotat just east of Marseille. However, the source detailed that the company’s business was seriously disrupted last year as a pair of coronavirus-related lockdowns kept all of its domestic venues shuttered for almost 21 weeks.
Comprehensive calamity:
Groupe Partouche reportedly explained these temporary closures along with the subsequent introduction of a range of social distancing protocols were responsible for sending its slot takings for the twelve-month period down by 26.7% year-on-year while moreover causing its associated gaming table revenues to decrease by 17.8%. As a result and the operator purportedly stated that its net gaming revenues had also dropped to €282.9 million ($341.7 million) as its earnings before interest, tax, depreciation and amortization fell by approximately 32.2% to €51.2 million ($61.8 million).
Foreign feat:
However, there was some good news as Groupe Partouche reportedly recorded an increase of 24.6% year-on-year in non-domestic gross gaming revenues for the same period driven in large part by a jump in business from its Belgium-facing online casino and sportsbetting service, which registered an around 51.1% improvement in takings.
Reportedly read a statement from Groupe Partouche…
“Our activities after the start to a year marked by very good momentum were suddenly brought to a halt from mid-March by the first lockdown and then between mid-March and the beginning of June by a ban on the opening of casinos before activities resumed quite satisfactorily in June. The measures aimed at limiting the spread of coronavirus marked once again the end of the financial year in October and had involved the gradual closure of all French casinos. The latter still remaining closed at this date.”
Source: Worldcasinodirectory, Worldcasinonews
