The French Ministry of the Interior has signed off on the sale of 75.07 percent of Société Française de Casinos (SFC), the owner of casinos in Gruissan, Châtel-Guyon, Port la Nouvelle and Collioure. The buyer is by Casigrangi, a subsidiary of Groupe Philippe Ginestet.
Casigrangi is the holding company of the Stelsia Casino brand, which owns casinos operating in Granville, Megève and Mimizan.
According to a statement from the company, SFC “informed its shareholders that the Ministry of the Interior had approved the Casigrangi acquisition project on November 4, 2020 and that this condition precedent has been lifted and that some usual conditions precedent, of a technical nature, remained to be lifted in order to finalize the acquisition transaction planned by Casigrangi.”
Casigrangi has acquired all the SFC shares held by Foch Investissements, Verneuil Finance and Framéliris, according to the statement. SFC’s board of directors believes the deal will “accelerate the development of the group.”
According to CDC Gaming Reports, following the acquisition the SFC board was changed to reflect its new shareholder structure, with Dominique Gortari as chairman and chief executive officer and Isabelle Bellino, Agnès Courtade, Julie Humbert and Alban Duchène as board members.
The group recorded turnover of €7.4 million (US$9 million) between November 1, 2019 and March 14, 2020, four and a half months instead of six months due to the coronavirus shutdown. The casinos reopened June 2, 2020. Half-year EBITDA came to €1 million.
