(AsiaGameHub) –   By: Robert Kensington

The French gambling giant is trying to spin a modest win. A 2.5% revenue bump is hardly a revolution. It masks the real friction happening on the floor. The physical slots are bleeding. The digital side is the only lifeboat. They are stuck between legacy heavy lifting and the digital pivot.

Let’s look at the Q2 numbers for the period ending April 30. Consolidated revenue hit €109.5 million. That is a 2.5% rise. GGR climbed 1.9% to €182.1 million. Net gaming revenue moved up 1.7% to €84.5 million. The first half shows similar trends. Consolidated revenue reached €240.4 million. That is a 3.0% increase year-over-year. First-half GGR hit €371.1 million. Net gaming revenue totaled €190.0 million.

The press release hides the pain points. Slot revenue dropped 1.8% to €125.8 million. The Berck casino closure hurt. But look at the table games. They jumped 14.8% to €37.3 million. The Casino 50 Croisette addition helped. The real story is online. Revenue there surged 26% to €7.1 million. International GGR rose 4.5% to €18.9 million. The Casino Cartouche property, opened in January 2025, is driving this. France GGR grew 1.6% to €163.1 million.

Partouche is cannibalizing its own floor to feed the cloud. The high-margin tables are saving the low-margin slots. The online growth is the only scalable future. If they do not accelerate the digital shift, the physical drag will eventually capsize the ship.

Author bio: Robert Kensington, an overseas entrepreneurial veteran with decades of experience in real-economy industrial investment and expansion.