| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 37.36 | 108 |
| Intrinsic value (DCF) | 13.47 | -25 |
| Graham-Dodd Method | 10.22 | -43 |
| Graham Formula | 1.19 | -93 |
Groupe Partouche SA (PARP.PA) is a leading French casino and hospitality operator with a diversified portfolio of gaming, hotel, and leisure assets. Founded in 1903 and headquartered in Paris, the company operates 41 casinos across France and internationally, featuring a mix of table games, slot machines, and electronic roulette. Beyond gaming, Partouche owns and manages hotels, gourmet restaurants, health spas, and golf courses, enhancing its integrated resort offerings. The company also engages in interactive TV gaming, sports betting, and real estate, leveraging its Quarisma platform for real-time service management. With a strong presence in the European gambling and hospitality sector, Groupe Partouche SA combines traditional casino operations with modern digital gaming solutions, positioning itself as a key player in the consumer cyclical industry. Its diversified revenue streams and strategic investments in entertainment and leisure make it a notable contender in the competitive gaming and resort market.
Groupe Partouche SA presents a mixed investment profile. On the positive side, the company benefits from a diversified business model spanning casinos, hotels, and digital gaming, reducing reliance on any single revenue stream. Its strong brand recognition in France and Europe provides a competitive edge. However, the company operates in a highly regulated industry, exposing it to potential legislative risks, particularly in gaming. The modest net income of €1.1 million (FY 2024) and diluted EPS of €0.11 suggest limited profitability, while a total debt of €269.3 million against cash reserves of €149.4 million indicates moderate leverage. The dividend yield of €0.32 per share may appeal to income-focused investors, but the lack of reported operating cash flow and capital expenditures data limits visibility into financial health. Investors should weigh the company’s established market position against regulatory uncertainties and financial constraints.
Groupe Partouche SA competes in the European gaming and hospitality sector, where differentiation is driven by integrated resort offerings, digital innovation, and regulatory adaptability. The company’s strength lies in its extensive casino network and diversified leisure assets, which create cross-selling opportunities. Its Quarisma platform enhances operational efficiency, while investments in interactive gaming position it for digital growth. However, Partouche faces intense competition from larger global casino operators and regional players with stronger financials and broader geographic reach. The company’s reliance on the French market (where gaming regulations are stringent) could limit growth compared to competitors operating in more liberal jurisdictions. Additionally, its smaller scale relative to multinational peers may hinder its ability to invest in large-scale resort developments or aggressive marketing campaigns. To maintain competitiveness, Partouche must focus on niche markets, digital expansion, and cost optimization while navigating regulatory challenges.