French casino giant also sees operating profits fall by 3.2 percent as foreign properties offset domestic chaos.
Tuesday 18th March 2008
French casino operator Groupe Partouche has revealed that its net profits halved last year, with the introduction of a smoking ban is making 2008’s outlook uncertain.
The Paris-based firm stated that net profits fell to $22.51 million from $45.19 million a year earlier on sales that were down one percent to $1.34 billion. It attributed the drop in sales to new security checks keeping customers away from its French venues.
The company reported recurring operating profits fell 3.2 percent to $119.32 million as its foreign casinos and hotel operations helped offset weak demand in its domestic gambling business.
The Groupe stated that the French initiation of a smoking ban on January 1 was already affecting business but that it would look to use any changes in local gaming laws to mitigate the impact, including possible forays into online gambling.
French casino operator Groupe Partouche has revealed that its net profits halved last year, with the introduction of a smoking ban is making 2008’s outlook uncertain.