Partouche Organization Reports €341 Million in Gaming Income for First Half of 2023
The Partouche Organization announced a combined gaming income (GGR) of €341 million for the initial six months concluding in April 2023, showing a 17.6% increase compared to the same time frame in 2022.
The organization’s six-month report indicated that total revenue was €341 million (approximately £293.9 million/$373.4 million), with business activity reaching €215.6 million, signifying a 15.2% year-over-year rise.
Partouche Organization emphasized that its overall operational earnings increased by 99.0% to €19.3 million in the initial six months, fueled by various factors, including enhanced operations at its gambling establishment, the Pasino Grand Hotel in Aix-en-Provence, France.
The Pasino Grand Hotel produced €2.1 million in operational earnings during the first half of the year, marking the first “typical six-month operational period” for the casino since its refurbishment was finalized in April 2019.
Moreover, Partouche Organization highlighted the “exceptional” performance of its Swiss online gambling operations during the period, with operational earnings reaching €500,000 in 2023, in contrast to €3.5 million in 2022.
However, the organization’s six-month report also unveiled a decrease in business activity and operational earnings to €215.6 million and €19.3 million, respectively, attributed to diverse expenses.
Among these, purchases and external expenses amounted to €70.7 million, showing a 16.5% year-over-year rise. But the most significant expenditure in the first half was related to staff costs, totaling €87.4 million, a 6.7% increase.
Depreciation, amortization, and impairment of fixed assets totaled €24.5 million, exhibiting a 6% decrease.
The firms income for the initial six months of the year was twenty million euros, a reduction of twenty-six point two percent compared to the same period in the previous year. This decline was mainly caused by a five percent decrease in sales. At the same time, tax and customs income reached nine point six million euros, down five point eight percent year-over-year, while other operational expenditures amounted to four point two million euros.
Other non-current asset income and operational expenses totaled seven hundred thousand euros.
However, financial income of one point five million euros was reduced by income tax, resulting in a pre-tax profit of eighteen point six million euros.
After subtracting one million euros in corporate income tax and seven hundred thousand euros in CVAE tax, the net profit reached eighteen point nine million euros, down twenty-three point five percent year-over-year.
After subtracting one hundred thousand euros in equity-accounted associate company earnings, the total net profit for the first half of the year was eighteen point eight million euros, down twenty-three point three percent year-over-year.
As of the end of June, earnings before interest, taxes, depreciation, and amortization (EBITDA) reached forty-two point seven million euros, an increase of twenty-four point six percent.
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