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France – Growing Joa Casino on the lookout for acquisitions

By - 1 December 2016

Having returned to growth organically over the last year, France’s third biggest operator Joa Casino, has said it is looking across France and beyond for growth opportunities through acquisitions.

The Lyon-based operator, who has 22 casino in France, managed to increase its Gross Gaming Revenues by 13.7 per cent to €227m for the year through to the end of October with its EBITDA increasing by nine per cent to €31.3m.

Joa President Laurent Lassiaz said:”This growth includes the casino in Besançon that we bought from Barrier in October 2015 but on a like-for-like basis our business still increased by 7.3 per cent. We have relocated our restaurants into more strategic locations in our casinos, creating a new concept called Comptoir Joa. We have become a place where guests can watch the big games on a multitude of TV screens alongside a very American decor with exposed brickwork. With all this, we have completely rejuvenated our customer base since 2006.”

In this time the casino operator has managed to reduce the average age of its customer by 20 years from 63 years of age to 43. Instead of just live games and slots, customers can enjoy bowling alleys, discos and cinemas. The restaurant business is 30 per cent following the changes.

Mr. Lassiaz added: “We are now on the lookout for acquisitions in France and across the borders.”

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