Groupe Partouche Reports Robust 2023 Revenue Growth Despite Net Profit Dip
The well-known casino and gaming business Groupe Partouche has disclosed a significant increase in Gross Gaming Revenue (GGR) for 2023, surpassing the €636.7 million reported in 2022. The prior year’s low numbers were ascribed by the corporation to pandemic-related restrictions that persisted until March.
GGR saw significant growth in a number of areas in 2023. The GGR for slot machines increased by 7.6%, the GGR for electronic traditional games in France grew by a strong 20.3%, and the GGR for online games in Switzerland increased by an astounding 41.6% year over year.
Net gaming revenue (NGR) increased by a noteworthy 9.0% to €332.9 million, while turnover that does not include NGR increased by 9.6% to €94.3 million. Consolidated turnover increased by a strong 9.0% globally to reach €423.8 million.
Financial Highlights and Net Profit Downturn
Expenditure experienced a general increase, with employee expenses rising by 5.5% to €177.2 million, and purchases and external expenses surging by 16.9% to €142.6 million. Despite an 18.3% surge in current operating profit to €27.4 million, the absence of certain income elements from the previous year led to a 32.7% decline in operating profit.
After accounting for adjustments and financing expenses, the pre-tax profit for 2023 was €24.5 million, a decrease of 36.2%. With a net profit of €23.4 million at year’s end, Groupe Partouche marked a 37.0% decline from €37.1 million the year before.
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Positively, EBITDA increased by a little 0.7% to €76.1 million during the course of the year.
Groupe Partouche gave details on its joint venture in the Belgian online gaming business with Betsson. The business declared that, as of January 1, its Casino Middelkerke was authorized to provide online casino games. The partnership was started in June and is primarily focused on Belgium, with plans to expand into additional regions pending the acquisition of necessary permits. The casino is positioned for a strategic online presence in the Belgian gambling scene. It is also scheduled to relocate to a seaside location in March.
