France – Partouche propped up by La Ciotat’s extra revenueBy Phil - 26 September 2017
French operator Groupe Partouche’s revenues grew by 0.8 per cent in the third quarter (May to July) of fiscal year 2016 to 2017, thanks in large to the additional revenues generated by La Ciotat casino, the outdoor casino located just outside of Marseilles.
Partouche said it had ‘seen a good evolution of its activity in the third quarter of the current fiscal year, across its business activities.’
Net sales were €98.9m, up 0.8 per cent compared with the same quarter last year. The group’s casinos recorded an identical increase in gross gaming revenue, generating €157.4m, compared with €156.1 a year earlier.
Partouche stated: “The GGR in our casinos was up by 0.8 per cent thanks to the dynamics of the table games generally witnessed within the group and to the new casino “PleinAir” at La Ciotat, that was inaugurated beginning of June 2017. The success was such that the establishment has been able to double its quarterly GGR and turnover within two months. The turnover of the hotels division slightly decreased due to the temporary closing of the Hotel 3.14, that mechanically impact the turnover by €1.6m. The growth in the division « Other » is mainly due to the inclusion in the scope of consolidation of the Paris restaurant Laurent bought for €1.8m for the quarter.”
For the first nine months of the year, sales amounted to € 304.3m, down by 1.4 per cent compared to 2015 to 2016.
The third quarter was also impacted by the first application of IFRIC 13 related to the implementation of the national loyalty program as at November1, 2016, which cost €0.8m.
The company added: “Our business in July was particularly buoyant, and this continued for the month of August, which keeps us confident that the business activity growth will continue during the current year. The start of activity of the new casino 3.14 Cannes, transferred on June 30 2017, is promising thanks mainly to the open air terraces: slots on the ground floor and table games on the rooftop. This is particularly satisfactory to the clientele.”