Palm Beach Exploitations Buys 40 Percent of Cannes Centre Croisette

Sat, Jun 15, 2024

Palm Beach Exploitations purchased a 40 percent interest in Cannes Centre Croisette from Groupe Partouche. The deal provides financing to finish extensive renovations to recreate Annemasse casino’s original 1995 look.

Palm Beach Exploitations Buys 40 Percent of Cannes Centre Croisette

Palm Beach Exploitations has purchased a 40 percent interest in Cannes Centre Croisette—which operates the iconic 3.14 Casino in Cannes, France—from Groupe Partouche, G3 Newswire reported June 12.

The new purchaser plans to reinvest in Palm Beach during the upcoming summer when extensive renovations by Palm Beach Exploitations are planned to recreate the Annemasse casino’s original 1995 luxury beachfront resort look.

Palm Beach Exploitations is planning to spend about $6.01 million on the renovations. It spent $8.6 million on renovations to the dining and bar areas last year, completing them in January 2024.

Partouche saw 2.3 percent growth in the first half of 2024, to a gross of $236.96  million, compared to $231.6 million in the first half of last year.

In Q2 GGR went up 2.7 percent to $186.6 million, with France providing 89 percent of the group’s total GGR.

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