Today, June 14th, France’s Groupe Partouche, a flagship company that is already a leader in the European iGaming industry, disclosed its H1 report for the second quarter of 2023, between February 2023 and April 2023, along with its consolidated turnover for the first half of the year, from November 2023 to April 2023. In addition, the H1 report displays a 15% growth in consolidated turnover for 2023, totaling €215.6, which is approximately $233 million.
The COVID-19 vaccination has had a significant impact on visitors to casinos owned by Groupe Partouche:
Throughout the first half of the former financial year (February to April 2022), there weren’t many visitors to the casinos owned by Groupe Partouche due to the rule that only people who have received any dose of the COVID-19 vaccine can cross state borders. Additionally, that rule lasted until March 14, 2022, in France and until February 17, 2022, in Switzerland. Furthermore, the first half of 2023 takes into account various developments and their effects, which are particularly related to:
- In Switzerland, the sale on January 31st, 2022, of a stake in the Crans-Montana casino;
- In Belgium, entering into the Group of the Middelkerke casino (Belgium) on July 1st, 2022, with an offical opening on July 8th, 2022, after some renovation works.
Decent growth for 2nd quarter:
After an excellent 1st quarter 2023, the company’s gross gaming revenue (GGR) saw a decent growth in the 2nd quarter 2023 at +14.1% caused by all types of games and amounted to € 169.1 million, compared to € 148. €2 million in the previous year. In addition, in France, the GGR, which benefited from 18.0% due to the increase in visitors, increased by +13.7% to € 152.1M. However, the GGR of slot machines also recorded a very decent increase of +10.0% (to € 121.5M) and electronic forms of traditional games, a growth of +26.8% (to € 18.2M).
As for abroad, GGR increased by +18.1% compared to the 2nd quarter of the previous year, at € 17.0M. What’s more, the Swiss online gaming continues to turn a profit (+24.3% over one year). After the levy, net gaming revenue (NGR) grew by +11.9 % at € 79.3M, compared to € 70.8M in the previous year. In addition, business without gaming has a turnover of € 20.9M (+12.1 %).
Worldwide, turnover in the 2nd quarter of 2023 totaled € 99.2M, compared to € 89.1M in 2022 (+11,4%). Therefore, the increased turnover in the first half of 2023 increased by 15.2 % at € 215.6M. At the end of April, the total turnover for 6 months amounts to € 215.6M compared to € 187.2M in 2022 (+15.,2%), and NGR reaches €176.0M (+14.8%) which indicates that the dynamics of activity have been re-established since the end of the Covid-19 pandemic.
Upcoming closing of the stock exchange:
The next important event for the company is the stock market close on Tuesday, June 27th, where it will definitely learn about its first quarter earnings.
After that, the next important event for the company is the stock market close, which will take place on Tuesday, September 12th, 2023, where the financial data for the 3rd quarter will be reliably known.
The legal status of online casinos in India is complex and varies by state. While there is no federal law that explicitly addresses online gambling, the legality depends on state regulations and the type of gambling involved.
Key Points:
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No National Law: India does not have a specific national law regulating online casinos. However, the Public Gambling Act of 1867 prohibits operating physical casinos and gambling houses, but it doesn't cover online platforms, leaving a legal grey area for online gambling.
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State-Specific Laws: Some Indian states, like Goa, Sikkim, and Daman, have legalized land-based casinos, and others, such as Sikkim, have also licensed online gambling. Many states have banned gambling altogether, including online gambling.
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Online Sports Betting: Betting on sports, particularly cricket, is very popular in India. However, it's only explicitly legal in some states like Sikkim and Nagaland, which have laws permitting online gaming and betting.
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Legal Gray Area: Many international online casinos accept Indian players and operate legally under licenses from offshore jurisdictions (like Curacao or the UK Gambling Commission). As long as players are gambling on licensed platforms, the risk is minimal, but local authorities may still choose to regulate or restrict online gambling.
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Cryptocurrency: Some Indian players prefer using cryptocurrencies (like Bitcoin) for online gambling, as it provides a layer of anonymity and security.
While online casinos aren't explicitly legal across all of India, many international casinos accept Indian players, and online gambling continues to grow in popularity. Players should ensure they use licensed platforms and understand local laws before engaging in online gaming.
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