The king of the Partouche casino weighed down by closures, the ex-insurance company assigned – Insurance for Pets
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Partouche’s turnover was divided by 5 over the past quarter. Casino closures weighed heavily.
Partouche is paying a heavy price for the Covid-19 crisis, the health restrictions having weighed down the turnover over the past quarter. In the first quarter of its 2020-2021 fiscal year, the casino and hotel operator saw its turnover fall by 81.4% over one year, to 23.5 million euros between November 2020 and January 2021. The group explains that all French casinos were closed, under general measures taken by the government to deal with the Covid-19 epidemic.
Abroad, the casinos of Ostend (Belgium) and Meyrin (Switzerland) also remained closed, while the casino of Crans-Montana (Switzerland) was able to welcome its customers for a short period between the 14th and the December 26 included on reduced hours, between 10 a.m. and 10 p.m. For its part, the casino in Djerba (Tunisia) remained open but was forced by a curfew starting at 8 p.m. At the same time as this point of activity, Partouche indicates that it has sued its former insurance company which is contesting its claim for compensation for operating loss following the ban on its establishments from receiving the public.
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After a first State Guaranteed Loan (PGE) of 19.5 million euros granted by the group’s partner banks in June 2020, these same banks have given their agreement for a second PGE in the amount of 59.5 million. millions of euros.
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