CR63-p60-Business1:SJC-Casino Review 22/12/07 20:43 Page 1
casinoreview
Nevada casinos win more in October
The US east coast centre per cent. This was the
Casinos in Nevada saw their aggregate gross gaming revenues
for casino gaming, Atlantic fourth straight month of
increase by 9.6 per cent year-on-year in October, reaching
City, New Jersey saw declining gaming revenues.
AC casinos
aggregate gross gaming
$1.16bn (808m euros). Las Vegas Strip resorts led the pack with
win less in revenues fall by 7.7 per
GGR of $638m (444m euros), up 20 per cent on October 2006.
cent in October compared
However, tax revenues have not risen as fast, with the state
October
to the same month last
collecting $71.9m (50m euros), up 1.5 per cent on the previous year. The eleven casinos
year but down 3.8 per cent below expectations.
together generated GGR of
$374.7m, of which
$260.8m came from slot
machines, a dramatic 12.2
per cent down on October
BUSINESSNEWS
2006. However, table
games, which accounted for
$113.9m, were up by 4.4
Casinos contribute
Partouche
to Gala profit
sees slight fall
in 2007
bouncingback euros, up a healthy ten per
Gala Coral Group has
PARTOUCHE GROUP cent.
Overall the GGR from
reported a record operating
Partouche has seen its Partouche’s operations
profit of £309.9m (434.7m
group turnover for 2007 reached 854.8m euros,
euros) for the financial year
drop by 0.2 per cent to down one per cent. Taxes
510.7m euros, despite also fell by just over one
ended September 29, 2007,
improvements in its non- per cent to 475.3m euros,
despite the negative impact
gaming businesses. With leaving net revenues from
casinos representing by gaming at 379.5 per cent,
of a smoking ban on its Gala
far the greatest portion of down 0.9 per cent.
Bingo business in the UK.
the company’s revenues, In a statement the
the other gains could not company said: “The
offset a 0.7 per cent fall to Partouche Group recorded
455.3m euros, down from increased activity in the
458.5m euros last year. fourth quarter with a
Hotels contributed 40.3m turnover of 132.8m euros,
euros with other up by 0.8 per cent, on the
companies in the group one hand due to receipts
adding 15.2m euros. from slot machines in
Some of the drop may foreign casinos and on the
be accounted for by a net other to other activities,
reduction in the number of principally the hotel
casinos the company business.”
operates; three fewer in It continued: “The
France, two fewer company therefore sees in
elsewhere. the positive progression in
Gross gaming revenues a second consecutive
for the group’s 47 French quarter confirmation of its
Neil Goulden, chief casinos were 764.5m successful adaptation to
executive of Gala Coral euros, down 2.2 per cent the significant changes in
on the 2006 figure of the industry during the
781.5m euros. Despite an 2007 financial year,
GameOn Scotland in March 2006, on its core values and has affected by the smoking ban. increase in the number of notably the introduction of
GALA CORAL Wales in April 2007 and continued to lead in the field In addition, the concurrent slot machines, they too identity checks into
England in July 2007, and of responsible gambling. removal of ‘Section 21 saw a fall of 3.5 per cent gaming halls, which
Gala Casinos played its part the removal of Section 21 Our commitment to machines’, which were very from 744.5m euros to adversely affected activity
in Gala Coral’s record results machines. funding, education, research popular with our customers, 718.7m euros. Table in the first quarter, the
with EBITDA from casino Neil Goulden, chief exec- and treatment into problem has further impacted games, both traditional introduction of new rules
operations rising by 10.7 utive of the Gala Coral gambling remains undimin- growth. On top of this, and and poker, saw a dramatic with regard to slot
per cent to £33.2m (46.2m Group, said: “I am delighted ished. despite bingo being one of rise of 23.8 per cent to machines, the introduction
euros), despite the unex- to report record profits for “I am especially pleased the softest forms of gam- 45.8m euros. The six of mixed gaming floors
pected duty increase the Gala Coral Group result- that after only two months bling, it remains the most casinos outside France and the operation of
imposed by the government ing in a 10.6 per cent of trading our new interna- heavily taxed in the gam- generated GGR of 90.3m Texas Hold’em Poker.”
in April 2007, which cost increase in PBIT (profit tional division has seen bling industry as the indus-
£2.5m (3.5m euros) in the before interest and tax). The above expectation yields try pays both VAT and Gross
year, and growing competi- results demonstrate that fol- from our new betting shops Profits Tax. We continue to
tion, both of which will lowing the 2005 merger in Italy. We have 219 shops make our case to govern-
impact full year profits in between The Gala Group open and the remaining will ment for the abolition of VAT
2007/8. and Coral Eurobet, creating be opened by Easter 2008. on bingo products.
The main driving force a fully diversified betting “I am also pleased with “Looking ahead, we hope
behind the overall record and gaming group with a the continued growth of the that there will be a more bal-
results for the group was the multi-channel offer, the Coral business. Since we anced and consistent
betting side of Gala Coral, Group is best placed to take acquired Coral in 2005 we approach to regulation and
where EBITDA surged 21 advantage of the wide range have added an extra 300 taxation which will allow
per cent to £194.3m of growth opportunities in betting offices and the estate for greater stability in the
(272.5m euros), driven by the UK and internationally. has further benefited from market place. Like many
60 new shop acquisitions, “We have responded the changes to opening businesses we enter 2008
28 new openings and under- quickly to the Walker Com- hours and new content on cautious about the wider
lying growth within exist- mittee Recommendations our machines introduced market conditions, but con-
ing shops. Coral now trades for greater transparency and from 1 September. fident that Gala Coral can
from over 1,550 shops and disclosure. Gala Coral and “However, other recent continue to outperform its
has an integrated remote its private equity investors, regulatory and legislative peer group and grow both in
gaming offer via coral.co.uk Candover, Cinven and changes have had a signifi- the UK and internationally.”
and Coral Telebet. Permira, are very pleased to cant impact upon the oper- The casino division is
EBITDA in Gala Bingo was be leading the way in terms ating environment for the awaiting further informa-
down 10.7 per cent to of reporting and disclosure. business. This is especially tion from the government
£136.7m (191.7m euros) In a challenging year Gala the case for the bingo indus- on the granting of the new
Patrick Partouche, president and CEO of
due to the smoking ban in Coral has remained focused try, which has been uniquely casino licences. the Partouche Group
60 January 2008 businessnews
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