GROUPE PARTOUCHE: Turnover 2nd quarter: € 89.1 M - Good upturn in
the activity at the end of the quarter
Turnover 2nd
quarter: €
89.1
MGood upturn in the activity at the end of the
quarter
Paris, 14th June 2022, 06:00 pm - Groupe
Partouche, one of the European gaming leaders, published today its
consolidated turnover for the 2nd quarter of 2022 (February 2022 –
April 2022)
As a preamble, let it be reminded that
during the 2nd quarter of the
previous financial year "2021" (February 2021 to April 2021), all
French casinos were closed under the general measures
taken by the Government to deal with the Covid-19 pandemic. Abroad,
the casino in Ostend (Belgium) also remained closed. The Swiss
casinos of Meyrin and Crans-Montana were able to welcome again
their customers with no curfew, as from 19th April 2021, but while
respecting health constraints. The Djerba casino (Tunisia) remained
open but constrained by a curfew starting at 10 p.m. Swiss online
games, deployed on 16th November 2020, and Belgian online games and
betting were active throughout the quarter.
All casinos are open during the
2nd quarter of the year under
review (February 2022 to April 2022), but continue to
suffer from the health constraints in place, which affect their
attendance:
- In France, the
“vaccination pass”, introduced on 24th January 2022, remained in
force until 13th March 2022 included, limiting customers’ access to
the casinos;
While attendance is thus down (-19.7%) compared
to the 2nd quarter of 2019 (February 2019 to April 2019, last
period excluding the Covid crisis), the average basket increased by
+20.8% to € 89 on the same period (with a French GGR down -4.0%).
It should be noted that the drop in attendance has eased since the
lifting of the vaccination pass (-13.7% between 14th March and 30th
April 2022 compared to the same period in 2019).
- In Switzerland,
the presentation of the "vaccination pass" has been lifted as from
17th February 2022.
In addition, the 2nd quarter 2022 takes
into account the scope
effects especially related to:
- the disposal on 31st January 2022
of the stake held in the Crans-Montana casino (GGR of € 3.3 M in
the 2nd quarter of 2019, the casino being closed in Q2 2020 and for
most of Q2 2021),
- the cessation of the online games
and betting in Belgium and of the management of the Ostend casino
since 29th July 2021 (during the 2nd quarter of 2021, the GGR in
Belgium amounted to € 22.8 M and to € 11.5 M in the 2nd quarter of
2020).
Turnover 2nd
quarter 2022: €
89.1 M
Taking into account the aforementioned items,
the Gross Gaming Revenue (GGR) stands at € 148.2 M during the 2nd
quarter of 2022 compared to € 25.1 M in 2021. Particularly, the
ramping up of the Swiss online games whose GGR amounts to
€ 3.3 M compared to € 1.1 M in the 2nd quarter of 2021, should
be noted. After levies, the Net Gaming Revenue (NGR) triples to €
70.8 M (compared to €22.0 M in N-1).
Overall,
revenue for the
2nd quarter 2022
amounts to €
89.1 M, compared to
€ 23.6 m in 2021 (x3.8)
and € 105.3m in 2019, down -15.4 %. Off-gaming activity
generates revenue of € 18.7 M compared to € 1.6 M in N-1 (x11.7)
and € 22.2 M in 2019, due to the reopening of all of the Group's
activities.
Overall, at a constant scope, the turnover for
the 2nd quarter 2022 records a limited decline of -6.2% compared to
the comparable period of 2019 pre-Covid.
Turnover 1st
half-year 2022:
€
187.2
M (compared to €
47.2 M
in 2021)
At the end of April, the aggregate turnover for
6 months quadruples and amounts to € 187.2 M, with a tripled Net
Gaming Revenue amounting to € 153.4 M, in a dynamic climate of
business development initiated since the end of the constraints
linked to the vaccination pass. Overall, at constant scope, revenue
for the 1st half of 2022 is down -8.5% compared to the same period
of 2019 pre-Covid.
End of renovation
works in Hyères
After a long period of refurbishment, largely
disrupted by the Covid-19 pandemic, the Hyères casino reopened in
its entirety on Wednesday 15th April. The games room has been
completely redesigned and now covers 1,500 m². The outdoor terrace,
equipped with slot machines and an electronic roulette, contributes
to the comfort of the players. Upstairs, a restaurant with a
hundred seats, including private spaces, has been created. A new
entrance, distinct from that of the casino, has been specifically
created for the adjoining theatre hall.
Responsible
gaming
In April 2022, the National Gaming Authority
(ANJ - www.anj.fr) validated Groupe Partouche's 2022 action plan
"Prevention of excessive or pathological and underage gambling",
highlighting in particular the ambition and the quality of its
content, associated with the innovation of specific devices.
The Group's prevention policy, as a committed
player in the fight against excessive gambling, aims to ensure that
gaming remains an entertainment and that our customers today are
our customers tomorrow.
This quality support is an integral part of our
mission. Each of our employees contributes to its success, through
its involvement, through the dedicated training courses developed
internally and through the many tools made available.
Sustainability-linked
loan
In February, Groupe Partouche signed its very
first sustainability-linked loan with Arkéa Banque. The applicable
interest rate is adjustable downwards (and upwards within the limit
of the initial rate) according to an extra-financial score
established by an extra-financial analysis and consulting agency,
EthiFinance. The criteria are broken down into three themes:
environment, social and governance. Groupe Partouche is firmly
rooted in its SER (social & environmental responsibility)
approach.
Upcoming
events:
Income 1st quarter: Tuesday 28th June 2022,
after stock market closing
3rd quarter financial information: Tuesday 13th
September 2022, after stock market closing
Groupe Partouche was established in 1973 and has
grown to become one of the market leaders in Europe in its business
sector. Listed on the stock exchange, it operates casinos, a gaming
club, hotels, restaurants, spas and golf courses. The Group
operates 42 casinos and employs nearly 3,900 people. It is well
known for innovating and testing the games of tomorrow, which
allows it to be confident about its future, while aiming to
strengthen its leading position and continue to enhance its
profitability. Groupe Partouche was floated on the stock exchange
in 1995, and is listed on Euronext Paris, Compartment B. ISIN:
FR0012612646 - Reuters: PARP.PA - Bloomberg: PARP:FP
ANNEX
1- Consolidated turnover
In €M |
2022 |
2021 |
Variation 2022/2021 |
2019 |
1st quarter |
98.1 |
23.5 |
x4.2 |
116.6 |
2nd quarter |
89.1 |
23.6 |
x3.8 |
105.3 |
Total consolidated turnover |
187.2 |
47.2 |
x4.0 |
221.9 |
Variation constant
scope vs
2019 |
-8.5% |
|
|
|
2- Construction of consolidated
turnover
2.1 – 2nd
quarter
In €M |
2022 |
2021 |
Variation 2022/2021 |
2019 |
Gross Gaming Revenue (GGR) |
148.2 |
25.1 |
x5.9 |
168.1 |
Levies |
-77.4 |
-3.1 |
x24.6 |
-84.3 |
Net Gaming Revenue (NGR) |
70.8 |
22.0 |
x3.2 |
83.8 |
Turnover excluding NGR |
18.7 |
1.6 |
x11.4 |
22.2 |
Fidelity Programme |
-0.5 |
0.0 |
|
-0.8 |
Total consolidated turnover |
89.1 |
23.6 |
x3.8 |
105.3 |
2.2 – Aggregate 6 months
In €M |
2022 |
2021 |
Variation 2022/2021 |
2019 |
Gross Gaming Revenue (GGR) |
290.0 |
50.0 |
x5.8 |
329.4 |
Levies |
-136.6 |
-5.8 |
x23.7 |
-150.0 |
Net Gaming Revenue (NGR) |
153.4 |
44.3 |
x3.5 |
179.4 |
Turnover excluding NGR |
35.2 |
2.9 |
x12.2 |
44.2 |
Fidelity Programme |
-1.4 |
0.0 |
|
-1.6 |
Total consolidated turnover |
187.2 |
47.2 |
x4.0 |
221.9 |
3- Breakdown of consolidated turnover
by activity
3.1 – 2nd
quarter
In €M |
2022 |
2021 |
Variation 2022/2021 |
2019 |
Casinos |
81.6 |
12.4 |
x6.6 |
96.4 |
Hotels * |
5.1 |
0.3 |
x16.4 |
1.6 |
Other |
2.4 |
10.9 |
-78.0% |
7.2 |
Total consolidated turnover |
89.1 |
23.6 |
x3.8 |
105.3 |
3.2 – Aggregate 6 months
In M€ |
2022 |
2021 |
Variation 2022/2021 |
2019 |
Casinos |
173.5 |
24.5 |
x7.1 |
205.5 |
Hotels * |
9.0 |
0.5 |
x17.4 |
2.8 |
Other |
4.7 |
22.2 |
-78.7% |
13.5 |
Total consolidated turnover |
187.2 |
47.2 |
x4.0 |
221.9 |
* Since 01/10/2021, the revenues of the St Amand, Forges and
Divonne hotels have been moved to the Hotels activity from the
Casinos activity for the first two and from the Other activity for
Divonne.
4- Glossary
The "Gross Gaming Revenue" corresponds to the
sum of the various operated games, after deduction of the payment
of the winnings to the players. This amount is debited of the
"levies" (i.e. State tax, the city halls tax, CSG, CRDS). The
«Gross Gaming Revenue» after deduction of the levies, becomes the
"Net Gaming Revenue ", a component of the turnover.
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