Operator News
France – SFC won’t issue dividends following coronavirus closures
By Phil - 29 March 2020
The Board of Directors of the Société fermière du casino municipal de Cannes (SFCMC), said it had decided, due to the crisis linked to the coronavirus Covid-19 not to issue any dividends to shareholders.
It said: “We have decided to adopt a prudent and responsible approach and to modify, unanimously, the draft text of the resolutions [of the next general meeting] relating to the second resolution, in order to propose not to proceed to the distribution of dividends and to allocate the entire profit for the year carried forward.’
“The Majestic Hotel and the Gray d’Albion Hotel have recorded in the last two weeks numerous cancellations following the rescheduling or postponement of flagship events at the start of the season in Cannes, such as in particular, the Mipim and Cannes Séries which have been shifted and MIPTV, which has been cancelled,” the operator added.
“The transition to phase 3 of the epidemic and the protection of the health and safety of our teams as well as of our customers also require us to close, in addition to the Gray Hotel of Albion, the Majestic hotel to count of March 17, 2020 and the postponement of the opening of the Carl Gustaf hotel (Saint Barthélemy). We follow the developments day by day and work with our professional unions to set up the support measures announced by our authorities.”
