The Partouche Organization experienced a substantial reduction in earnings for the 2020-21 financial period, attributed to prolonged closures during the global health crisis.
The organization’s overall earnings decreased by more than 25% due to the ongoing restrictions, with gambling revenue declining by a third.
For the fiscal period ending October 31, 2021, total gambling revenue amounted to €350.2 million, a 33.4% decrease compared to the 2019-20 financial period.
After settling €134.2 million in gaming taxes, the organization’s net gambling revenue reached €215.9 million, a 23.7% decrease compared to the 2019-20 financial period.
The Partouche Organization’s non-gambling revenue totaled €41.1 million, down 34.4%, but €1.4 million of this was offset by loyalty programs.
Consequently, the organization’s total consolidated revenue was €255.7 million, a 25.6% decrease from the preceding year.
The organization noted that the Partouche casinos were closed for six and a half months during the fiscal period, more than double the amount of time they were closed in the 2019-20 financial period.
The company stated, “The reduction in activity due to the health crisis will automatically result in a decline in annual outcomes.”
Examining the fourth quarter alone, total gambling revenue was €148.7 million, a 4.1% decrease compared to the fourth quarter of the 2019-20 financial period.
French slot machine earnings reached €108.6 million, a rise of 8.6% compared to the previous year, while table game earnings grew by 1.7% to €25.3 million.
The average amount customers spent climbed from €70 in the fourth quarter of 2019-20 to €83 in the fourth quarter of 2020-21.
Partouche paid €75.5 million in taxes, a decrease of 3.2% compared to the previous year, with net gaming earnings of €73.1 million, down 5.0% compared to the previous year.
After adding €21.2 million in non-gaming earnings, Partouche’s overall revenue reached €94.3 million, an increase of 0.5% compared to the previous year.
Partouche had aimed to obtain a permit to construct an integrated resort in Wakayama Prefecture, Japan, as the operator for Japanese holding company Clairvest Neem Ventures’ proposal, which was chosen for Wakayama’s integrated resort license bid.
However, Clairvest Neem ended its agreement with Partouche, and ultimately Caesars Entertainment replaced Partouche as the operator for the proposal.
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