Wakayama IR investor Groupe Partouche reports 71% revenue decline in 2Q21
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French casino operator Groupe Partouche has reported a 71.1% year-on-year decline in gross gaming revenue in the three months to 30 April 2021 to €25.1 million (US$30.6 million), impacted by casino closures in France and Belgium.
According to the company’s financial reports, published overnight (Asia time) and covering the period from February through April, the majority of its European casinos were closed through the quarter as a result of the COVID-19 pandemic, including all casinos in France and the Ostend casino in Belgium.
The Swiss casinos of Meyrin and Crans-Montana reopened on 19 April while the Djerba casino in Tunisia remained open but with a 10pm curfew.
As a result, the majority of the company’s GGR was generated in Switzerland and via the online space in both Switzerland and Belgium, where GGR grew 136.6% to €23.9 million (US$29.1 million).
Aggregate turnover of the group for the six months ended 30 April 2021 was down 74.3% to €47.2 million (US$57.5 million) while net gaming revenue fell 70.4% to €44.3 million (US$53.9 million).
Partouche did note, however, that its casinos have begun reopening in the months since Q2.
“After a minimum of 201 days of closure, French casinos have been welcoming their customers again since Wednesday 19 May,” it said.
“Only slot machines and electronic forms of table games were accessible with the constraint of a 9pm curfew. Nevertheless, the resumption of activity was very satisfactory.
“As of this day, the table games can reopen and the curfew is pushed back to 11pm Moreover, a health-pass is required in the establishments where the operator decides to welcome more than 1,000 people.”
Groupe Partouche was announced earlier this week as one of Clairvest Neem Ventures’ consortium partners in its bid to develop an integrated resort in Wakayama, Japan. Clairvest has been named as Wakayama Prefecture’s official IR operator partner with the consortium now set to work alongside the prefecture to create an IR development plan to submit to the national government by 28 April 2022.
