Year-long license extension for Groupe Partouche

IDNSport.net – Year-long license extension for Groupe Partouche,

French casino operator Groupe Partouche has reportedly had the license for its Grand Casino venue in the small spa town of Forges-les-Eaux automatically extended by a further year after local officials were unable to launch a new tender owing to the ongoing coronavirus pandemic.

According to a Monday report from G3Newswire, the Paris-headquartered firm was due to see the license for the currently-shuttered Normandy facility it runs through its Forges Hotel SA subsidiary expire last October. However, the source detailed that the launch of the process to find a replacement operator has been continually delayed due to the unremitting presence of coronavirus even though the community of some 4,000 residents is eager to agree a deal and see the entire business relocated to a much larger site.

Pricey permit:

Home to eleven gaming tables and about 300 slots, the 119-year-old Grand Casino reportedly recorded annual gross gaming revenues for 2019 of around 33.5 million ($40.7 million) to bequeath approximately 3 million ($3.6 million) to the local community. Despite this windfall, Forges-les-Eaux is purportedly hoping to bring in 670 million ($814.5 million) for a new 20-year license that will oblige any operator to hand over 50,000 ($60,800) for tourist development and pay a 15% tax on earnings beyond 5 million ($6 million).

Subsequent success:

In related news and Groupe Partouche was moreover reportedly awarded with a 20-year extension to its license for the Casino Palavas venue it runs in the southern French seaside resort town of Palavas-les-Flots. This small facility with its five gaming tables and 100 slots purportedly chalked up some 13.7 million ($16.6 million) in gross gaming revenues for 2019 with its current operator now set to remain in place until the conclusion of 2041.

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