Casinos in Paris and Cannes drive strong growth for Partouche 

Groupe Partouche recorded consolidated turnover of €360.7 million in the first nine months of the 2026 financial year. This is 3.7 per cent higher than the €347.8 million recorded in the same period a year earlier. Growth accelerated particularly in the third quarter. The French casino operator benefited from recent investments in Paris and Cannes, whilst its overseas branches presented a more mixed picture. 

The figures do, however, require some clarification. In the URL of the original report, ‘3.7 per cent’ could be mistakenly read as 37 per cent. The increase is therefore 3.7 per cent. Furthermore, the turnover of €360.7 million is not the same as gross gaming revenue. The latter amounted to €571.1 million over the first nine months. 

According to Groupe Partouche’s official quarterly report, gross gaming revenue also rose by 3.7 per cent. On a like-for-like basis – that is, excluding the full impact of recent changes within the group – growth stood at 2.8 per cent. France remained by far the most important market, with gross gaming revenue of €510.7 million. International operations accounted for €60.4 million. 

Growth accelerates in the third quarter 

Groupe Partouche operates on a split financial year. The period now published runs from November 2025 to July 2026 inclusive. The third quarter comprises the months of May, June and July. 

In those three months, turnover amounted to €120.3 million, compared with €114.5 million a year earlier. This represents an increase of 5.1 per cent. Growth was therefore higher than in the first quarter, when turnover rose by 3.5 per cent, and in the second quarter, which saw an increase of 2.5 per cent. 

Gross gaming revenue also accelerated. It rose by 5.8 per cent in the third quarter to exactly €200 million. On a like-for-like basis, growth was as high as 6.1 per cent. In this calculation, Partouche excludes, amongst other things, the acquisition of Casino Partouche Cannes 50 Croisette and the opening of the casino in Cotonou. The improvement was therefore not solely due to new venues or a broader scope of consolidation. Existing operations also performed better. 

This trend is part of a broader movement in the French market. As Gambling Club previously reported, several major European casino groups are investing heavily in France. The French land-based casino market remains attractive due to its size and the limited digital offering. Online casino games are still prohibited for private operators, meaning that land-based venues, gaming clubs and long-term licences remain strategically important. 

Table games account for the biggest increase 

Operations in France generated gross gaming revenue of €181.1 million in the third quarter. This was 7.1 per cent higher than the €169.1 million recorded a year earlier. Non-electronic table games stood out in particular: their revenue rose by 76 per cent, from €16 million to €28.2 million. 

The change in slot machines was much smaller. Gross gaming revenue rose slightly from €130.4 million to €130.9 million. Electronic table games, on the other hand, declined slightly, from €22.6 million to €22.1 million. Quarterly growth was therefore not evenly distributed across all gaming categories. Traditional tables accounted for the lion’s share of this growth. 

This distinction is relevant to Partouche’s land-based strategy. Slot machines generally provide a stable and substantial revenue stream, but live tables can set a venue apart and attract additional visitors. At the same time, they require more staff and floor space. The fact that Partouche is achieving a strong increase in this very area suggests that recent investments have not only added new capacity but are also actually bringing players to the tables. 

New Paris venue delivers immediate results 

The main driver of growth was the Paris gaming club, which moved to Avenue de la Grande-Armée, close to the Arc de Triomphe, on 12 May 2026. Gross gaming revenue from this operation rose from €0.4 million to €9.2 million in the third quarter. 

Legally speaking, the venue is a gaming club rather than a fully-fledged casino. Paris imposes restrictions on traditional casinos, which means that such clubs focus primarily on poker and other table games. European Gaming previously reported on the opening and the status of the Paris club. The new venue therefore provides a logical explanation for the strong growth in traditional table games at Partouche. 

Cannes also contributed. The Royal Palm Casino, which underwent restructuring, recorded gross gaming revenue of €4 million for the quarter. A year earlier, its contribution had been a negative €0.2 million. This turnaround demonstrates that the quarterly growth stemmed not only from expansion but also from operational improvements at an existing venue. 

Partouche is thus taking a different route to groups entering the French market via major acquisitions. For instance, Gambling Club recently reported that Merkur intends to acquire seven French casinos. Previously, NOVOMATIC also gained access to the French market through the acquisition of Vikings Casinos. Partouche already has an extensive network and can pursue growth through renovations, relocations and the improvement of individual venues. 

Outside France, the picture is mixed 

International gross gaming revenue fell by 5.1 per cent to €18.9 million in the third quarter. The main setback came from Switzerland. At the Meyrin casino, major refurbishment works weighed on business. Revenue from gaming machines there fell by 25.4 per cent to €6.5 million. 

This decline was offset by growth in the Swiss online operations. These generated €7.3 million, 11 per cent more than a year earlier. The casino in Cotonou, Benin, also made progress. Gross gaming revenue tripled from €0.3 million to €0.9 million, although its absolute contribution to the group remains limited for the time being. 

The international picture underlines just how important France remains for Partouche. Over the first nine months as a whole, almost 90 per cent of gross gaming revenue came from the home market. Overseas growth can offer the group greater diversification, but in this quarter it was primarily the French investments that drove the results. 

Gross gaming revenue is not turnover 

In financial reports on casinos, wagers, gross gaming revenue and turnover are often confused. For Partouche, the distinction is significant. The gross gaming revenue of €571.1 million is the amount remaining after player winnings from the games operated have been paid out. Taxes and other gambling levies are then deducted, amongst other things. 

After €291.5 million in levies, net gaming revenue for the first nine months stood at €279.5 million. To this was added €82.2 million in non-gaming revenue, whilst the loyalty programme resulted in an adjustment of €1.1 million. This brings the consolidated turnover to €360.7 million. 

In the third quarter alone, levies amounted to €110.5 million. Net gaming revenue therefore stood at €89.5 million, an increase of 6.9 per cent. Together with €31.4 million in other revenue and an adjustment of €0.6 million for the loyalty programme, this resulted in quarterly turnover of €120.3 million. 

This breakdown illustrates why gross gaming revenue cannot be directly compared with the turnover of a standard hospitality or entertainment business. In the case of a casino, tax payments represent a very significant gap between the gaming result on the floor and the turnover that ultimately appears in the consolidated accounts. 

Casinos are growing, hotels are declining 

The casino division achieved turnover of €329 million over the first nine months. This was 4.4 per cent higher than a year earlier and represented over 91 per cent of total group turnover. The other activities rose by 3.8 per cent to €10.4 million. 

The hotels, however, moved in the opposite direction. Their turnover fell by 6.6 per cent over nine months to €21.2 million. In the third quarter, the decline was even more pronounced: down 11.3 per cent to €8.8 million. The figures therefore primarily reflect a strong quarter for the casino business, rather than overall growth across all of Partouche’s divisions. 

For land-based casino operators, hotels, catering and entertainment are often part of a single destination. Nevertheless, these activities can perform differently. The recent results show that the appeal of new or refurbished gaming floors does not automatically lead to the same level of growth for the hotels. 

Investments and licences determine the competitive landscape 

According to the company, Groupe Partouche operates 43 casinos and employs nearly 4,050 staff. The strong contribution from Paris and Cannes is delivering a tangible return on recent investments for the company, but competition in France is intensifying. Foreign groups are acquiring existing networks to gain rapid access to licences, locations and local operating contracts. 

The latter is also something Belgian readers will recognise. The operation of a large land-based casino is closely linked to the government and the local authority where it is based. The Brussels case also centred on a long-term contract: Gambling Club explained how the concession for the Brussels casino was awarded to Napoleon Games. Such contracts make a casino business more than just a collection of gaming tables and slot machines. Access to a venue and the right to operate it for many years have strategic value in their own right. 

For Partouche, the focus is now shifting to the fourth quarter and profitability for the full financial year. After all, revenue growth alone does not indicate how much profit the investments are generating. The next revenue update is scheduled for 8 December 2026, whilst the annual results are due on 26 January 2027 according to the current calendar. The first nine months already send a clear signal: the French casino floor, and in particular the traditional table games, is once again the driving force behind the group.