France – A casino group in France; La Société Française de Casinos, also known as SFC Group, has today reported positive annual financials following the reduction of gross debt and the sale of one of its establishments.
The firm, which was founded in 1995 and operates Gruissan Casino and Collioure Casino among others, has reported figures that show it reduced its gross debt to just over four million Euro and that net gaming was stable and almost eleven million Euro.
SFC Group commented on the reports:
“The accounting capital gains made during the various disposals have a very positive impact on the Group’s net income and equity. The year was marked by the disposals of the Capvern casino and the building used for the Châtel-Guyon casino, as well as by the finalisation of the disposal of the Chamonix casino and of the stake in SFBC.”
The firm expanded on details on its other properties and the roles they played in the report:
“The SFC recorded a consolidated turnover of €20.4m stable on a comparable basis, a trend observed in all four casinos. The Gruissan casino notably ended the year with perfectly stable turnover, the good second half having made up for the delay of the first 6 months of the year.”
Finally, the group’s spokesperson concluded by outlining its near future plans of its current owned properties:
“The consolidation of the balance sheet situation and the group’s profit prospects allow it to calmly pursue its operations and investments, while reimbursing its various maturities. The group will therefore continue to operate the four casinos kept within the scope for the next few years. Commercial and marketing actions will be continued to increase attendance and increase turnover as well as profitability through strict cost control.”
According to reports, the Belgian firm GAMING1 is looking to take over the SFC Group with an attractive bid and lucrative investment. The group already owns six casinos in France, including one in Paris, and the Casino of Davos in Switzerland along with more than ten online gaming sites in Spain, Portugal, France, Serbia, Peru and Colombia.