Partouche will repay its loan early after the rebound in revenues in the first quarter

Groupe Partouche will repay its state-backed Covid-19 emergency loan early, after business rebounded with 469.5% growth in gross gaming revenue in the first quarter of its 2021-22 financial year, which ended January 31.

The company noted that due to the lack of casino activity in these markets during the comparable period, year-over-year comparisons were difficult. Even among the casinos that were accepting customers, Casino Crans-Montana in Switzerland was only open for 13 days and Casino Djerba in Tunisia operated under curfew.

As a result, only online games in Switzerland and Belgium provided a consistent revenue stream until the first quarter of 2021-22. Despite the lack of change in availability, Swiss online revenues nevertheless increased from €600,000 in the first quarter of the previous year to €3.2 million this year.

Compared to the first quarter of 2019-20, footfall decreased by 33.0%, but average spend per customer increased by 30.3%. As a result, revenues decreased by 18.9% compared to this period.

The company paid €59.3 million in gambling taxes, after paying just €2.6 million the previous year.

As a result, his net gambling income was €82.5m, just 374.4% year-on-year.

In addition, Partouche generated €16.6m in non-gaming revenue, compared to just €1.2m in 2020-21. Of this total, €9.4 million was attributable to its casinos, €3.9 million to hotels and €2.3 million to other sources.

Following the successful takeover, as well as the sale of the Crans-Montana Casino announced earlier this year, Partouche will now be able to prepay the state-guaranteed loan it received in June 2020 due to the Covid-19 pandemic. The operator said it will complete repayment of the loan on April 15.

Outside Europe, Partouche had sought a license to build an integrated station in Japan’s Wakayama prefecture, working as an operator in Japanese holding company Clairvest Neem Ventures’ bid, which was chosen for the bid for Wakayama to acquire an IR license.

However, Clairvest Neem terminated its agreement with Partouche, and the operator was eventually replaced by Caesar in the offer.

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