"However, in order to speed up the repayment of this debt, Groupe Partouche has put in place an asset divestment plan," he added. Partouche said casino operators had been hit by new regulations, including the smoking ban, in recent years, and these, combined with the financial crisis, had hurt the group's profitability.
A cost-cutting plan it started in October 2008 had limited the impact of a drop in activity on operating profit, he added. The group's first half sales fell 10.8 % to 222.8 million euros (us$ 334.3 million).