Return to pre-crisis income level at constant scope
3rd quarter turnover: solid momentum at constant scope (+12.7% vs Q3 2021)
Solid business activity at constant scope, during the 3rd quarter
The 3rd quarter of the current financial year (May to
At the same time, turnover for the 3rd quarter 2022 is impacted by significant scope effects representing - € 28.1 M in aggregate GGR compared to Q3 2021 (and - € 14.2 M versus 2019). They concern:
- the sale of the stake held in the Crans-Montana casino on 31st
January 2022 (GGR of € 2.2 M in the 3rd quarter 2021 and € 3.0 M in the 3rd quarter 2019); - the cessation of the operation of online games and bets in
Belgium and of the management of the Ostend casino since 29thJuly 2021 (GGR of € 26.1 M in the 3rd quarter 2021 and € 11.2 M in 3rd quarter 2019); - the entry into the Group of the casino of Middelkerke (
Belgium ) from 1stJuly 2022 , with an opening on 8thJuly 2022 after some works (GGR of € 0.2 M in the 3rd quarter 2022).
Despite these scope effects, Gross Gaming Revenue (GGR) increases by +10.8% to € 167.9 M in the 3rd quarter, compared to € 151.5 M a year earlier. At constant scope, it increases by +36.1% compared to the 3rd quarter 2021 to € 167.6 M and by +11.9% compared to the 3rd quarter 2019.
In
Abroad, on a like-for-like basis, GGR rebounds by +35.2% compared to N-1, driven by the ramping up of Swiss online games, whose GGR came to € 2.9 M compared to € 1.6 M € in the 3rd quarter 2021.
After levies with a very strong increase of +75.3% compared to the 3rd quarter 2021 mainly due to the progressive scale in
Turnover excluding games totals € 26.9 M over the period, compared to € 16.3 M for the previous year, up by +64.7%.
Globally, 3rd quarter turnover stands at € 100.9 M (-11.6% compared to 2021 and -3.8% compared to 2019). At constant scope, it increases by + 12.7 % versus 2021 and by +9.3% versus 2019.
Return to 2019 level of activity over 9 months at constant scope and dynamic activity
At the end of July, aggregate income of the 9-month totals € 288.1 M (+78.6% compared to 2021), with Net Gaming Revenue at € 228.4 M (+60.0%). Overall, at a constant scope, aggregate revenue for the first 9 months of 2022 financial year returns to its pre-Covid 2019 level (-0.4%). The Group's activity continues to develop in a dynamic climate since the end of the constraints linked to the vaccination pass.
Upcoming event:
4th quarter 2022 turnover: Tuesday 13th
Income for fiscal year at 31st
ANNEX
1- Aggregate 9 months consolidated turnover, per quarter
In €M | 2022 | 2021 | Variation 2022/2021 | 2019 |
1st quarter (Nov. to Jan.) | 98.1 | 23.5 | +317.0% | 116.6 |
2nd quarter (Feb. to Apr.) | 89.1 | 23.6 | +276.8% | 105.3 |
3rd quarter (May to Jul.) | 100.9 | 114.2 | -11.6% | 104.9 |
Total consolidated turnover | 288.1 | 161.4 | +78.6% | 326.8 |
2- Construction of the consolidated turnover
2.1 – 3rd quarter
In €M | 2022 | 2021 | Variation 2022/2021 | 2019 |
Gross Gaming Revenue (GGR) | 167.9 | 151.5 | +10.8% | 164.6 |
Levies | -92.8 | -53.0 | +75.3% | -87.1 |
Net Gaming Revenue (NGR) | 75.0 | 98.5 | -23.8% | 77.5 |
Turnover excluding NGR | 26.9 | 16.3 | +64.7% | 28.3 |
Fidelity programme | -1.0 | -0.6 | - | -0.8 |
Total consolidated turnover | 100.9 | 114.2 | -11.6% | 104.9 |
2.2 – Aggregate 9 months
In €M | 2022 | 2021 | Variation 2022/2021 | 2019 |
Gross Gaming Revenue (GGR) | 457.8 | 201.5 | +127.2% | 494.0 |
Levies | -229.5 | -58.7 | +290.8% | -237.2 |
Net Gaming Revenue (NGR) | 228.4 | 142.8 | +60.0% | 256.8 |
Turnover excluding NGR | 62.1 | 19.2 | +223.5% | 72.5 |
Fidelity programme | -2.4 | -0.6 | - | -2.5 |
Total consolidated turnover | 288.1 | 161.4 | +78.6% | 326.8 |
3- Breakdown of turnover by activity
3.1 – 3rd quarter
In €M | 2022 | 2021 | Variation 2022/2021 | 2019 |
Casinos | 87.8 | 96.5 | -9.0% | 93.0 |
Hotels | 8.3 | 2.6 | 223.3% | 3.0 |
Other | 4.9 | 15.2 | -67.8% | 8.9 |
Total consolidated turnover | 100.9 | 114.2 | -11.6% | 104.9 |
3.2 – Aggregate 9 months
In M€ | 2022 | 2021 | Variation 2022/2021 | 2019 |
Casinos | 261.3 | 120.9 | 116.0% | 298.5 |
Hotels | 17.2 | 3.1 | 461.6% | 5.8 |
Other | 9.6 | 37.3 | -74.3% | 22.5 |
Total consolidated turnover | 288.1 | 161.4 | 78.6% | 326.8 |
4- 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.
Attachment
- Turnover - Q3 2022
© OMX, source