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A Bad Year for the Partouche group

The year 2012 is a difficult year for the Partouche Group. The third quarter results have been published and aren’t up to the level hoped for by the group. The revenue generated is 112.8 million euros which is a decrease of 7.7%. The gross gaming income has fallen by 8.4% to reach 168.5 million euros. In the light of these falling figures, the Partouche Group explained in a press release that it wishes to abandon the aims that it had set itself for the current year.

These lower figures were a surprise. Even though the gaming business has been declining for some years, the Partouche Group has always tried to keep going and hasn’t skimped on the means to invest and so attract new players. In spite of everything, these efforts haven’t borne fruit. It’s the same story for the other businesses such as restaurants and shows which have registered a decrease of 5.3%. The hotel business has also suffered from an 8.6% decrease and according to recent studies the figures for the next few months will be even more alarming. In fact, the number of tourists to France is to decrease significantly. All of this is mainly the result of a world wide economic crisis which has been ongoing for the past few years and which risks going on for another while.

The publication of the Partouche Group’s figures had an immediate effect on the price of shares on the stock exchange which fell by 7.8% at once to reach 0.94 euro. The fall hadn’t been anticipated given the encouraging price this summer which put the shares at 1.70 euro. The Partouche Group is going through a difficult time at the moment. It has already paid the price for this during the Partouche Poker Tour which was held in Cannes at the beginning of September, by confirming that the five million euros which should have been shared between the winners would not be maintained and would be reduced. At the moment abandoning the objectives that it had for this year is giving it bad publicity and it could do without this.

By | 2014-05-27T12:24:45+00:00 December 11th, 2013|Casino france, Partouche|0 Comments