Gaming1’s plan to take control of French casino group Société Française de Casinos (SFC) through its French subsidiary, Circus Casino France has “lapsed,” the company announced. The Belgian group blamed the financial crisis precipitated by the coronavirus.
Société Française de Casinos operates casinos in Gruissan, Port la Nouvelle, Collioure and Châtel-Guyon. SFC said the deal announced at the end of December was obsolete “following the activation of a suspensive condition, which enabled Circus Casino France to waive these transactions, in the event of the closure of establishments operated by the group for more than 10 days,” caused by the Covid-19 health crisis. “The expiry of the sale contracts ends the pre-offer period (the public offer being the consequence of the transfer of the blocks to the transferee).”
According to the statement, Circus Casino France wants to pursue the acquisition “but under new financial conditions which take into account the consequences of the current health crisis on the activities and financial performance of the group. No agreement has been reached at this stage following this request.”
The SFC promised to keep the market informed of “any significant development in the planned transactions.”
