The Patoush Group revealed its complete financial results for the fiscal year concluding on October 31, 2022, showcasing total gaming revenue (GGR) of €636.7 million (£563.1 million/$629.5 million).
Patoush’s income for the 2021-22 fiscal year saw a substantial rise of 81.8% compared to the previous year, a significant jump from the €350.2 million GGR generated in the 2020-21 fiscal year.
Slot machines were the primary contributor to Patoush’s GGR for the year, reaching €500 million, more than double the €224.6 million generated in the preceding year.
Patoush’s non-electronic games accounted for €68.2 million of the total GGR, a slight increase from €61.4 million in the prior fiscal year, while electronic gaming GGR experienced a substantial surge of 131.8% to €68.4 million.
No sports betting GGR was recorded for the year.
After Patoush paid €331.1 million in gaming taxes—a further increase from €134.2 million in the 2020-21 fiscal year—net income for the year was €305.5 million, an increase of 41.5%.
A total of €86.1 million in revenue—excluding net gaming revenue—along with a €2.8 million cost loss associated with the loyalty program, brought Patoush’s total consolidated revenue to €388.8 million. This represents a 52% increase from the €255.7 million recorded in 2021.
Consolidated revenue also surpassed the total revenue for 2020, which was €343.5 million. However, this still represents a notable decrease from the pre-pandemic revenue of €410.8 million in 2019.
Of this total turnover, €352 million. Patoush’s revenue for the 2021-22 fiscal year saw a significant increase of 81.8% year-on-year.
Earnings from gambling activities reached €4 million, a rise of 69.6% compared to the previous year. Lodging facilities contributed €27.9 million to the overall earnings, while other operations generated €43.4 million.
Operating earnings
Income was influenced by a variety of expenses. The most significant was staff costs, totaling €168 million, a 61.2% increase year-on-year.
Purchases and external expenditures decreased by 6.9% to €122 million. The third largest expense for the year was depreciation and impairment of fixed assets, at €51.5 million, up 4.7% year-on-year.
Other expenses included membership fees and taxes, as well as other operational costs.
This resulted in an operating profit of €23.1 million for the year, an increase of €69.5 million.
Other non-current operating income amounted to €3.5 million, which, combined with the €14.1 million gain on the sale of a consolidated holding, brought total operating profit to €40.7 million, a rise of 86.2% year-on-year.
Financial costs totaled €2.3 million, bringing pre-tax profit to €38.4 million, an increase of €87.7 million.
After accounting for income tax of €0.5 million, value-added tax of €1.7 million and equity method adjustments of €0.1 million, total net profit for the year amounted to €37.1 million. This represents a year-on-year increase of €93 million.
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