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1st half-year 2018/2019 Income Good operating and financial performances Continuation of the investment programme

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During the meeting it held on 25th of June 2019 and after having reviewed the management report of the Executive Board, the Supervisory Board examined the audited accounts for the first half of the 2018-2019 financial year (November to April).

Good operating and financial performance together with a solid financial situation

The good performance of the activity over the half-year materialized by a Gross Gaming Revenue (GGR) of €329.4M up by + 4.7% and a turnover of € 221.9 M up by + 5%.

The Group’ EBITDA increased by + 13.2 % reaching € 44.8 M (i.e. 20.2% of the turnover) compared with € 39.6 M (i.e. 18.7%) of the 1st HY 2018.

The current operating income (COI) strongly correlated with the activity, reached € 23.3 M (+17%). This performance is essentially due to the casinos and other activities sectors.

The COI of the casinos sector has increased by € 1.8 M reaching € 27.1 M. This should be highlighted because it takes into consideration the full impact over the period of the increase in CSG as at 1st of January 2018 (€ 0.7 M during 1st HY 2019, this impact being over only 4 months at 1st HY 2018) together with the payment at the beginning of the year of the tax-free premium, called “Prime Macron”, for an amount of € 0.4 M.

In addition, the operational reconfigurations carried out on several sites bear fruit: COI of La Ciotat PleinAir casino is up by + 0.8%, of Cannes 314 casino + 1.1% and of Forges-les-Eaux casino + 0.8%. At the same time, the renovations of the Pasino at Aix-en-Provence, whose first phase was completed in early April 2019, continued to weigh on its profitability.

For the 1st HY 2019, the negative impact of the COI “Other activities” is more limited – € 2.3 M (versus – € 3.9 M for 1st HY 2018) thanks in particular to savings in advertising costs (end of sponsoring of the LOSC Club in Lille)

Finally, the COI of the Hotels sector is steady at – € 1.4 M, despite the renovation works carried on over the period.

The non-current operating income represents a net expense of – € 1.9 M that takes into consideration the estimated cost of restructuring the Pasino Aix-en-Provence together with the cessation of the activity at the Hotel 3.14 Cannes (still closed)

Finally, the net income amounted to € 16.6 M, up by + 25% (+ € 3.3 M) after taking into account a more limited negative impact of the financial income of – € 0.4 M pertaining to the decrease in net interest expense over the period and a tax expense (including CVAE) of € 4.2 M.

The Group’s financial structure remains very healthy with a cash position of € 67.0 M, shareholders’ equity of € 382.9 M and a net financial debt of € 90.6 M.

RECENT EVENTS AND OUTLOOK

Launching of PasinoBet, an online sports betting platform

At the end of the HY, Groupe Partouche launched its online sports betting platform in France, PasinoBet, which offers a wide range of sports: football, basketball, tennis, rugby, etc. Regarding the technology component, the Group has entered into a partnership with BetConstruct, a company specialized in providing a complete sports betting solution (quotes comparator, statistical tools to analyze the performance of sports teams, live streaming service and a complete platform dedicated to sports betting).

Divestment of the minority stake held in Palm Beach Cannes Côte d’Azur

On 19th of June 2019, Groupe Partouche sold for € 11.5 M (securities and receivable) the 49% minority stake it still held in Palm Beach Cannes Côte d’Azur, which owns Cannes Balnéaire. As provided by the current safeguarding protocol, 50% of the net proceeds of the divestment were allocated to the compulsory prepayment of the lenders of the syndicated loan.

Public concession at Boulogne-sur-Mer

The public service concession of the Boulogne-sur-Mer casino comes to an end on 27th of June 2019.

Following the early termination of the convention of occupation of the public domain that should run until 2035, Partouche Immobilier has requested a compensation of € 12.4 M.

Upcoming events:

3rd quarter financial information: Wednesday 11th of September 2019, after Paris stock market close

4th quarter turnover: Wednesday 11th of December, after Paris stock market close

Groupe Partouche was established in 1973 and has grown to become one of the market leaders in Europe in its business sector. Listed on the stock exchange, it operates casinos, hotels, restaurants, spas and golf courses. The Group operates 43 casinos and employs nearly 4,500 people. It is well known for innovating and testing the games of tomorrow, which allows it to be confident about its future, while aiming to strengthen its leading position and continue to enhance its profitability. Groupe Partouche was floated on the stock exchange in 1995, and is listed on Euronext Paris, Compartment B. ISIN : FR0000053548 – Reuters : PARP.PA – Bloomberg : PARP:FP

FINANCIAL INFORMATION

 

Annex

Consolidated Income

In €M – At 30 April (6 months) 2019 2018 ECART Var.
Turnover 221..9 211..3 10.6 +5.0%
Purchases and external expenses (76.2) (71.5) (4.7) 6.5%
Tax and duties (9.8) (10.1) 0.3 -3.2%
Employee expenses (88.4) (87.2) (1.2) 1.4%
Depreciations, amortisations & impairments of fixed assets (21.8) (20.6) (1.2) 6.0%
Other current operating income & expenses (2.4) (2.0) (0.4) 20.8%
Current Operating Income 23.3 19.9 3.4 +17.0%
Other non-current operating income & expenses (1.9) (0.6) (1.3) 227.7%
Other current operating income & expenses
Impairment of non-current assets
Non-current Operating Income (1.9) (0.6) (1.3) 229.3%
Operating Income 21.4 19.3 2.1 +10.8%
Financial Income (0.4) (0.9) 0.5 -58.0%
Income before tax 21.0 18.4 2.6 +14.3%
Corporate income tax (2.3) (2.4) 0.1 -4.6%
CVAE tax (1.9) (1.5) -0.4 24.3%
Income after tax 16.9 14.5 2.4 +16.4%
Share in earnings of equity-accounted associates (0.3) (1.2) 0.9 -74.2%
Total Net Profit 16.6 13.3 3.3 +24.6%
o/w Group’s share 13.1 9.7 3.4 35.0%

 

EBITDA 44.8 39.6 +5.2 +13.2%
Margin EBITDA / Turnover 20.2% 18.7%   +1.5 pt

The item Purchases & external expenses increased by + € 4.7 M (+6.5%), mainly impacted by:

  • the evolution of subcontracting expenses (+ € 4.0 M), mainly due to the increase in charges related to online licenses in Belgium, corresponding to the + € 4.8 M increase in sales generated by this activity (casino and sports betting)
  • an increase in the expenses of Pornic Casino (+ € 0.9 M) due to the transfer of the activity to the new premises.
  • in the opposite direction, the Advertising item decreased by € 0.9 M with the end of the LOSC sponsorship.

The item Employee expenses amounted to € 88.4 M, a € 1.2 M increase mainly due non-recurrent expenses: payment of the « prime Macron » (€ 0.4 M) and expenses related to the reorganization of some subsidiaries, notably the new Pornic Casino (€ 0.6M).

Given the sustained investment program implemented over the last years, depreciation and amortization of fixed assets increased by 6.1% to € 21.8 M.

Other current operating revenue and expenses represent a net expense of € 2.4 M versus € 2 M for the 1st HY 2018. This increase is due to variations in provisions.

The non-current operating income represents a net expense of – € 1.9 M that takes into account the estimated cost of the restructuring on going in Pasino d’Aix-en-Provence and of the shutdown of the Cannes 3.14 Hotel (still closed).

Operating income reached € 21.4 M up by + 10% over one year

The item financial income amounted to – € 0.4 M (versus – € 0.9 M for 1st HY 2018). Net financial expenses decreased thanks to a slightly lower half-yearly average interest rate and the maturity of the interest rate hedge at the end of 2018.

Income before tax amounted to € 21 M versus € 18.4 M for the 1st HY 2018.

The tax expense (CVAE included) amounted to € 4.2 M, compared to € 3.9 M in 1st HY 2018.

The item Share in earnings of equity-accounted associates is a deficit of € 0.3 M relating to Palm Beach Cannes Côte d’Azur, the divestment of the Group’s minority interest was finalized on 19th of June 2019.

The net income of the 1st HY is a profit of € 16.6 M versus € 13.3 M in 1st HY 2018, of which € 13.1 M Group’s share (compared to € 9.7 M in 1st HY 2018)

Balance Sheet

At 30th of April 2019, the Total Net Assets are globally stable and represent € 714.7 M compared to € 722.1 M at 31st of October 2018. During the period under review, the main evolutions are:

  • a decrease in non-current assets of € 7.9 M following the reclassification in “Assets held for sale” of the €10.5 M receivable held by Palm Beach Cannes Côte d’Azur (sale of the minority stake of the Group finalized on 19th of June 2019), and the reduction of tax debts (notably related to the end of the CICE mechanism). Conversely, the € 5.9 M increase in “Property, plant and equipment” mainly consists of the volume of investments and amortization expense;
  • a decrease in current assets of € 10 M, mainly due to a cash flow of € 12.8 M (see comments on the flow sheet).

On the liabilities side, shareholders’ equity, minority interests included, increased by € 11 M compared with 31st of October 2018 and thus reached € 382.9 M as at 30th of April 2019.

The € 19.7 M reduction in financial debt (or gross debt) takes into account:

  • the annual maturity of the syndicated loan settled on 15th of December 2018 for € 20.1 M;
  • the provision of the last part of the real estate leasing following the completion of the construction of the Pornic Casino, then its first amortization, for a net amount of € 2.8 M;
  • the setting up of new bank loans for € 5.0 M;
  • The reimbursement of other bank loans for € 7.2 M.

Financial structure – Summary of net indebtedness

In €M 30/04/2019  6 months 31/10/2018  12 months 30/04/2018  6 months
Equity  382.9   371.9   378.4 
Consolidated EBITDA  44.8   64.1   39.6 
Gross debt (*)  157.5   177.2   150.6 
Available cash less gaming levies  67.0   79.7   81.6 
Net debt  90.6   97.5   69.0 
Net debt to equity (« gearing ») 0.2x 0.3x 0.2x

(*) Gross debt includes bank borrowings and restated capital leases, accrued interest, miscellaneous borrowings and financial debt, banking facilities and financial instruments.

Glossary

The “Gross Gaming Revenue” corresponds to the sum of the various operated games, after deduction of the payment of the winnings to the players. This amount is debited of the “levies” (i.e. tax to the State, the city halls, CSG, CRDS).

The «Gross Gaming Revenue» after deduction of the levies, becomes the “Net Gaming Revenue “, a component of the turnover.

Current operating income (COI) combines all of the income and expenses directly related to the Group’s businesses to the extent that these items are recurring, usual items of the operating cycle or that they result from ad hoc events or decisions related to the Group’s operations.

Consolidated EBITDA comprises the balance of the income and expenses items constituting current operating income, excluding depreciation and amortisation and provisions relating to the operating cycle and one-off items relating to the Group’s activities that are included under current operating income but are excluded from EBITDA given their non-recurring nature

Attachment

 

Source: GlobeNewswire


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: 1st half-year 2018/2019 Income Good operating and financial performances Continuation of the investment programme

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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London Waterfront Experience unveiled for iGB L!VE

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iGB L!VE organisers have unveiled designs illustrating the stunning new waterfront social and business networking feature which will be launched at July’s edition, the first to be held in London.

Situated adjacent to the historic Royal Docks, the London Waterfront Experience will involve an iGB L!VE take-over of the Waterfront Street Kitchen and Bar part of ExCeL’s ‘Immerse LDN’ Dock Edge entertainment district. It will include a series of entertainment activations including a centrepiece barge which will be moored at the edge of the dock.

Heralding the exciting new feature which represents a celebration of iGB L!VE’s relocation to London, Global Portfolio Director Naomi Barton said: “ With London’s July sun shining and temperatures reaching the mid-twenties, iGB L!VE’s Waterfront Experience will serve as a dynamic networking and social space.  Open throughout the show it will provide a vibrant London-inspired ‘twist’ on the social and business opportunities that the industry loves about iGB L!VE.”

She added: “The London Waterfront Experience will enhance  iGB L!VE’s unique chemistry and help deliver another world class event with all elements of the igaming industry ecosystem coming together in a city which is widely regarded as being the heart of the igaming industry.

“iGB L!VE 2025 will deliver unparalleled business opportunities with attendees having free access to the sector’s most influential brands and igaming professionals, occupying over 22,000 sqm of cutting-edge innovation and inspiration.”

iGB L!VE’s relocation to London will enable the event brand to continue its upward trajectory and achieve an ambitious four-year plan targeting 30,000 visitors and 550+ exhibitors/sponsors by 2028.

The post London Waterfront Experience unveiled for iGB L!VE appeared first on European Gaming Industry News.

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GR8 Tech to Share AI Insights at Prague Gaming & TECH Summit 2025

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GR8 Tech, an award-winning provider of innovative technological solutions for the iGaming industry, will share its extensive AI expertise at the upcoming Prague Gaming & TECH Summit 2025.

Opening the event’s agenda, the panel discussion “The Rise of AI in Gaming: Friend, Foe, or Industry Game-Changer?” will feature Raid Arfua, Head of Artificial Intelligence at GR8 Tech, alongside other industry experts, delving into all the ways artificial intelligence is revolutionizing the gaming industry, reshaping everything from game design to player experiences and content creation.

Following the panel discussion, Raid will host the Hipther Academy Workshop “AI-Driven CRM in iGaming,”  providing attendees with a clear understanding of how advanced ML models provide valuable insights, improve crucial CRM processes, and optimize overall strategies. The workshop will also explore the usage of AI Agents, demonstrating their role in improving CRM efficiency through seamless interaction with ML models.

We at GR8 Tech approach technology such as AI with realism: while it is a very popular topic, full of buzzwords, the truth is that AI has been here for quite some time now. Instead of hyping it up as an emerging technology, we focus on the practical applications, case studies of how AI is implemented across our solution portfolio, and what real impact it is – and has been – driving for the operators’ businesses,” commented Raid Arfua.

Reflecting its industry-leading status, GR8 Tech has also been shortlisted for two GamingTECH Awards 2025 categories: Best Sports Betting Provider in CEE and Best Online Casino Provider in CEE. Winners will be revealed at the GamingTECH Awards Awards Party & Ceremony on March 25, 2025.

For more AI-driven insights and updates, connect with GR8 Tech on the website and LinkedIn. The

 

About GR8 Tech

GR8 Tech is an award-winning platform provider delivering tailored solutions for operators worldwide.

GR8 Tech’s core strengths lie in its robust technology and focus on a personalized approach based on business needs, geographic focus, or operational verticals. From comprehensive offerings like Hyper Turnkey to specialized solutions such as the Sportsbook iFrame, Infinite Casino Aggregation, or Platform Acceler8 set, GR8 Tech provides UNbeatable flexibility and performance to drive operators’ growth and success.

Trusted by top operators worldwide, GR8 Tech has over 45 successful cases and earned recognition as the Best Online Sportsbook Provider 2024 by SiGMA Award and Best iGaming Platform Europe 2025 by International Investor Awards.

The post GR8 Tech to Share AI Insights at Prague Gaming & TECH Summit 2025 appeared first on European Gaming Industry News.

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Navigating Compliance & Innovation: NSoft’s Vision for iGaming’s Future

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HIPTHER, organizer of the Prague Gaming & TECH Summit 2025, is proud to welcome NSoft, an awarded software provider in the betting and gaming industry, as a key participant in this year’s event. In this exclusive interview, we speak with Zlatan Omerspahić, Head of Legal and Compliance at NSoft, to explore the challenges of entering the Brazilian market, the company’s new slot development plans, and the latest updates on its Next Gen Platform and Sportsbook solutions.

 

As new markets emerge, compliance requirements continue to evolve. What are the biggest regulatory challenges NSoft faces when certifying its portfolio for international expansion, and how do you navigate them?

When facing a new regulatory framework or amendments, one of the main challenges is determining how to adapt your existing portfolio. On the one hand, you need to comply with regulations; on the other, you must remain attractive to players.

Each market typically has its own set of technical standards. Some European jurisdictions require Random Number Generator (RNG) certification from specific labs. Different U.S. states mandate unique reporting formats for game logs or jackpot payouts.

The modular architecture allows us to develop games and platforms that can be easily adapted or toggled on/off for specific features required by different regulators. Our dedicated compliance team tracks each market’s technical updates. We have established an internal process to quickly evaluate and implement changes and we work closely with accredited labs (e.g., GLI, BMM) that have experience across multiple jurisdictions. Early and regular testing in these labs can speed up certification.

The biggest challenge lies in anticipating all necessary steps so that both you and your client have a clear understanding of the time to market. Securing licenses can be expensive and time-consuming.

Some markets, like the UK, have strict guidelines under the UK Gambling Commission (UKGC). Others, such as Malta, follow the Malta Gaming Authority (MGA) requirements. The frameworks can vary significantly in scope. Separate licensing is often needed for each new product type (e.g., sports betting vs. online slots).

We start with smaller or simpler markets to fine-tune our processes before moving on to the bigger, more complex ones. We maintain a comprehensive library of corporate and technical documentation (policies, procedures, financial statements) so it can be adapted quickly for each new licensing application.

Different regions have different data privacy requirements. The General Data Protection Regulation (GDPR) in the EU requires strict controls on handling personal data, with hefty fines for noncompliance. Some markets have data localization rules (e.g., certain Latin American or Asian regions) requiring that customer data remain on local servers.

We integrate encryption, access controls, and clear data retention policies from the outset. Working with hosting and cloud providers who offer local data centers where required, ensures we meet data residency requirements. We maintain comprehensive privacy policies that clearly outline data usage, storage, and protection mechanisms.

iGaming operators are prime targets for illicit money flows because of high-volume transactions. Regulators impose strict AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements, including identity verification, transaction monitoring, and suspicious activity reporting.

What to do here? Integrate robust KYC and AML software that automatically flags unusual betting patterns or rapid deposit/withdrawal cycles. Tailor AML protocols to match the specific risk profiles of each jurisdiction. High-risk areas might require enhanced due diligence measures.

Each regulation has its own requirements, and regulatory bodies lack a uniform approach, so there is no single stance on the matter. Fortunately, thanks to my team of experienced professionals who have been in the industry for many years, we can quickly adjust to whatever these regulations entail.

 

The Brazilian market is currently undergoing significant regulatory changes. From a compliance perspective, what are the key hurdles for suppliers entering this market, and how is NSoft ensuring full adherence to local requirements?

Brazil has undoubtedly been the most important topic in the industry over the past few months. As part of the Sportradar Group, we have big plans for this market and are excited about the opportunities it offers.

From a regulatory standpoint, Brazil is a textbook example of a market transitioning from unregulated to regulated status for the first time. It naturally creates uncertainty and complexity for suppliers entering the market.

The challenges we encountered are interpreting new and evolving legislation around sports betting, online gaming, and taxation, each of which may require different licenses or technical approvals. We also faced regulatory changes during the certification process, which prolonged our time to market.

Also, data protection rules under Brazil’s LGPD mirror GDPR in some respects but introduce distinct obligations, such as potential data localization or particular reporting guidelines. In parallel, suppliers must adapt to local financial and banking processes to fulfill AML and KYC requirements, which can differ significantly from those in North America or Europe.

Through close collaboration with leading certification bodies, we worked diligently to meet all requirements.

Thanks to the dedicated efforts of our development team, we managed to overcome these challenges. However, there is a sense that the regulatory framework may need further adjustments after some time, once the newly regulated environment begins functioning in practice.

 

NSoft has been expanding its casino portfolio, particularly in slot development. How do compliance and regulatory standards shape the innovation process, and what are the biggest challenges when launching new video slots?

Balancing innovation and regulation is always challenging. While development focuses on creating the highest-quality product tailored to players’ preferences, regulation aims to protect players through a framework that covers various aspects.

We face a range of challenges, from game design and RTP percentages specific to certain markets to acceptable game names and mechanics.

In highly regulated jurisdictions, for example, a new slot might need to limit the maximum bet, include automatic loss or time-limits, or remove potentially addictive features such as rapid-fire spins.

The biggest challenge lies in balancing innovation with meeting these stringent regulations. Each game feature, like bonus rounds, progressive jackpots, or social elements, must be tested and certified by third-party labs, adding time and cost to the development cycle. Additionally, different markets might impose unique conditions on how results are displayed or how player data is stored.

What sets us apart, however, is our adaptability. We have in-house solutions for everything we offer, which makes the adaptation process significantly faster.

 

Your Next Gen Sportsbook Platform is built with a strong punter-centric approach. How does regulatory compliance play a role in platform development, and what steps does NSoft take to ensure both operators and players benefit from a secure and compliant environment?

Regulatory compliance is a cornerstone of NSoft’s Next Gen Sportsbook Platform, ensuring that both operators and players benefit from a secure, fair, and legally compliant environment.

Given the ever-evolving nature of global betting regulations, NSoft integrates compliance into every stage of platform development. NSoft’s platform is designed to meet the strictest regulatory requirements across various markets, supporting compliance with multiple gambling authorities, including the MGA, UKGC, and local regulators, to facilitate seamless licensing and adherence to legal frameworks.

 

As a speaker at the Prague Gaming & TECH Summit, what key insights will you be sharing with the audience? What makes this event an essential platform for discussing the intersection of compliance, innovation, and market expansion?

At the Prague Gaming & TECH Summit, I will share key insights into the evolving regulatory landscape, the role of technology in compliance, and how innovation drives sustainable market expansion. My primary focus will be on the Balkan countries.

This event is crucial for networking with regulators and industry leaders, giving direct insights into what’s next in compliance, technology, and market growth. It’s the perfect platform for staying ahead of regulatory challenges and finding practical solutions.

 

With NSoft at the Prague Gaming & TECH Summit 2025, this year’s event promises invaluable insights into the future of iGaming and technology. Don’t miss the opportunity to connect with industry leaders, gain exclusive market perspectives, and be part of the most dynamic gathering in the CEE region!

Join us on 25-26 March 2025 in Prague – Register now and explore the full agenda!

The post Navigating Compliance & Innovation: NSoft’s Vision for iGaming’s Future appeared first on European Gaming Industry News.

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