The Patoush Group’s financial performance for the 2020-21 fiscal year was adversely affected by ongoing shutdowns, as reported by iGB.
The Patoush Group’s overall income decreased by more than 25%, while gambling revenue dropped by a third, as the operator continued to struggle with closures in the fiscal year ending October 31.
The total gambling revenue for the fiscal year was €350.2 million, a 33.4% decrease from the 2019-20 fiscal year.
After paying €134.2 million in gambling taxes, a 44.7% reduction, net gambling revenue was €215.9 million. This represented a 23.7% decline from the 2019-20 fiscal year.
Patoush generated an additional €41.1 million in non-gambling revenue, down 34.4%, although €1.4 million of this was offset by payments through its loyalty program.
Consequently, the group’s consolidated total revenue was €255.7 million, a 25.6% decrease from the previous year.
The operator noted that Patoush casinos were closed for six and a half months during the fiscal year. This was more than twice the amount of time casinos were closed in the 2019-20 fiscal year.
“The reduction in activity caused by the pandemic will automatically result in a decrease in annual performance,” it stated.
Focusing solely on the fourth quarter of the fiscal year, total gambling revenue was €148.7 million. This was a 4.1% decrease from the fourth quarter of the 2019-20 fiscal year.
The primary source of income for Partouche’s overall gambling earnings is France, while earnings from overseas reached €14.8 million, the majority of which originated from online operations in Switzerland. The cessation of the Ostend casino in Belgium resulted in a decrease in earnings.
In France, slot machine earnings reached €108.6 million, a rise of 8.6%, while table game earnings increased by 1.7% to €25.3 million.
The average expenditure per customer increased from €70 in the final quarter of 2019-20 to €83 in the final quarter of 2020-21.
Partouche paid €75.5 million in taxes, a decrease of 3.2%, with net gambling earnings of €73.1 million, a decrease of 5.0% from the preceding year.
Non-gambling earnings amounted to €21.2 million, bringing Partouche’s total earnings to €94.3 million, an increase of 0.5%.
Partouche had hoped to secure an integrated resort permit in Wakayama Prefecture, Japan, as the operating partner for Japanese holding company Clairvest Neem Ventures. Clairvest Neem Ventures’ bid was chosen for the Wakayama integrated resort permit bid.
However, Clairvest Neem terminated its agreement with Partouche, and Caesars eventually replaced the operator.
Sign up for the iGaming newsletter.