Net Profits Half For Groupe Partouche
By Staff
French casino operator Groupe Partouche has revealed that its net profits halved last year, with the introduction of a smoking ban is making 2008’s outlook uncertain.

The Paris-based firm stated that net profits fell to $22.51 million from $45.19 million a year earlier on sales that were down one percent to $1.34 billion. It attributed the drop in sales to new security checks keeping customers away from its French venues.

The company reported recurring operating profits fell 3.2 percent to $119.32 million as its foreign casinos and hotel operations helped offset weak demand in its domestic gambling business.

The Groupe stated that the French initiation of a smoking ban on January 1 was already affecting business but that it would look to use any changes in local gaming laws to mitigate the impact, including possible forays into online gambling.

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