The Supervisory Board of the Groupe Partouche released the report of the first half-year audited accounts. The report contained information from November 2022 to April 2023, and it was submitted by the Groupe Partouche Executive Board.
Great improvements:
The results were announced during the meeting held in Paris on June 27th.
Overall, the results were good, and a significant improvement was noticed after the last health measures were lifted in February and March last year.
As a consequence of lifting the measures, the Gross Gaming Revenue (GGR) increased by 17.6%, or € 341.0 million, and there was an increase in turnover as well, which was 15.2%, or € 215.6 million.
EBITDA increased by 24.6%, with earnings of € 42.7 million, and during the first half of the 2022 financial year, it was € 34.2 million.
The current operating income (COI) was € 19.3 million, which is twice as much as in the previous year when it was € 9.7 million.
On the other hand, the net income was € 18.8 million, which is a decrease compared to April 2022, when the net income was € 24.6 million. However, the sale of the stake that occurred in the Swiss Crans-Montana casino had a great impact on the increase in the net income in the last year, as well as the old disputes’ resolution in Belgium, which brought € 3.4 million.
So far, Groupe Partouche’s financial structure is healthy, with a constant cash flow that helps make the environment solid and secure. When it comes to the cash flow, after paying the taxes and fees, which in total cost € 127.8, remains the equity of € 369.0 million, and the net debt of € 38.6 million, which is in accordance with the previously established loan agreement.
Plans for renovation:
The great results allowed the Group to make some changes and restructure some of its establishments. One of the Group’s casinos, DIVONNE, will be completely renovated in order to get back its old glow. The general cleaning is already completed, and it will be followed by the reopening of the interior bays, which became possible after the cleaning, making the casino a modern and unique place that will draw the attention of gamblers from the region. New gaming rooms will be added, as well as the bar, restaurant, and completely new design of the old place, but with the mission to preserve the spirit of the old casino.
The VICHY casino will also be renovated, enlarging the gaming room, restaurant, bar, and all entrance hall areas.
The information about financial information for the third quarter of 2023 will be released on Tuesday, September 12th, and the turnover for the 4th quarter of 2023 will be announced on December 12th.