Operator News
Partouche sells 40 per cent of Cannes Centre Croisette
By Phil - 12 June 2024
Groupe Partouche is selling 40 per cent of Cannes Centre Croisette, which operates the 3.14 casino, to Palm Beach Exploitations, who will reinvest in Palm Beach over the summer of 2024, following extensive renovations by Palm Beach Exploitations, transforming it into a luxurious beachfront leisure complex reminiscent of its original spirit.
Through this association, Groupe Partouche aims to benefit from the affluent clientele that will frequent this iconic venue. The renovation costs, borne by Cannes Centre Croisette, amount to €5.6m.
The news came as Partouche delievered ‘solid growth of 2.3 per cent increase’ in the first half of 2024 with six-month revenue, reaching €220.6m compared to €215.6m in the first half of 2023, and a 2.1 per cent increase in Net Gaming Revenue to €179.7m.
Gross Gaming Revenue (GGR) for the second quarter increased by 2.7 per cent to €173.7m. France provided 89 per cent of the group’ GGR)’s total, up 1.7 per cent to €154.8m compared to Q2 2023, driven by a 2.5 per cent increase in slot machine GGR to €124.6m. The GGR from table games, both electronic and non-electronic, decreased by 1.4 per cent to €30.2m. Abroad, the GGR increased by 11.5 per cent compared to Q2 2023, reaching €18.9m, thanks to the continuous rise of Swiss online gaming, which was up 48.9 per cent. The Middelkerke casino also performed well with improved revenues of 31.7 per cent.
In other developments, the partnership with Financière Must, led by Julien Manival has seen the opening of Copal Beach, previously La Plage 3.14 in Cannes on the Croisette, featuring a South American concept and cuisine by Colombian chef Juan Arbelaez.
After two years of renovations amounting to approximately €21m, the Lyon Vert casino has been transformed into the Pasino Grand-La Tour Salvagny, joining the prestigious major establishments of the group. This transformation marks a new era for the casino, offering visitors an even more immersive and entertaining gaming experience. With a remarkable increase in gaming space from 1,600 m² to nearly 4,000 m², the Pasino Grand-La Tour Salvagny will offer an exceptional variety of games. This modernization also includes the integration of the latest technologies, ensuring an innovative experience for players. Culinary surprises await guests with a high-quality and surprising bistronomic offering.
Since October 2022, extensive renovations amounting to €8.1m have been underway to restore the Annemasse casino, established in 1995, to its former glory. The first phase of this major renovation was completed in January 2024, with the official reopening of the entrance via its rotunda and the left wing of the establishment, which houses the slot machines and a smoking terrace at the end of the wing. The dining and bar areas have also been completely renovated. The restaurant is located behind the indoor bar and opens onto the outside, with a panoramic terrace overlooking the banks of the Arve.
