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France – SFCMC impacted again by COVID with Le Croisette now up for tender

By - 17 January 2022

The Lucien Barrière–owned Société fermière du casino municipal de Cannes (SFCMC) published its results for the 2020-2021 financial year, when it generated €84.6m.

Gross gaming revenue was down 23.5 per cent. Whilst accommodation revenue recorded an increase of 113.2 per cent compared to the 2020 financial year with an occupancy rate up 5.8 points (60.9 per cent compared to 55.2 per cent in 2020) and average revenue per room up by €386.6.

With regard to the Casino Barrière Les Princes, the operator said it ‘has not applied to extend the operation until October 31 2022. The Casino Les Princes concession therefore expired on October 31, 2021. For the Casino Barrière Le Croisette concession, an agreement was concluded with the city of Cannes allowing the casino concession to be renewed for an additional year. i.e. until October 31, 2022.’ “The gaming, catering, hotel and entertainment industries are once again heavily affected by the Covid-19 health crisis,” the group said. “The Casino Barrière Le Croisette concession ends on October 31, 2022. The city of Cannes has launched a call for tenders for the operation of the casino from November 1, 2022 for a period of 12 years. The SFCMC has submitted an offer and is awaiting the decision of the City of Cannes.”

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