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Land and Online Casinos Company Having Difficulties

Partouche has announced the company’s year-end financial results for 2007, and as the company anticipated, it’s been a rough year. Partouche is involved in the French land and online casinos gambling industry, and while there are certainly issues within the French internet gambling industry, land casino operations were hit particularly hard by new French legislation. The French government passed a smoking ban for the land gambling facilities, and this has had a surprising negative impact on the company’s year-end results report. Between that and problems in the French online casinos gambling industry, Partouche has an uncertain future in the coming months.

Partouche announced that the company’s pretax profits for all of 2007 in both land and online casinos gambling were halved from the previous – and coming in at 14.4 million below the previous year-end pretax profits, that’s a pretty serious loss. The loss is largely because land casinos in France across the board saw a drop in gamblers actually coming out to the gambling facilities after the smoking ban. Other EU nations have begun to pass similar policy, and across the board it seems that a smoking ban is a death sentence (at least temporarily) for the land casinos.

But the land gambling industry is not the only sector that took a hit in 2007. France has been a part of intense scrutiny from the European Commission because of exclusionary and protectionist online casinos gambling activities. Partouche is one of the many countries that has been a part of the battle in France between state-run monopolies and foreign operators.