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Société Française de Casinos : Declared in receivership by the court
The financial and economic crisis spares no one and no activity, gambling and its companies are also affected. A French group has just been put into receivership, it is the Société Française de Casinos (SFC), which operates three casinos that are located respectively in Chatel-Guyon, Gruissan in Puy-de-Dome and Port-la-Nouvelle in Aude with a total staff of 167 employees. The SFC also has a few online gambling websites. The cause of the receivership is simple, the company has accumulated a debt of 11.1 million since late April and has difficulties with its creditors. Under observation for four months, it was finally this solution of receivership which has been taken by the Commercial Court of Paris. And this group is not alone in suffering of these financial problems. On July 15th, the Casino of Beaulieu-sur-Mer in the Alpes Maritime was declared insolvent by the Commercial Court of Nice.
It is a real slump that now raging the domain of French casinos because statistics are overwhelming on this point : a decrease of 20% of activities since 3 years. The sector with 197 casinos, 22,000 slots and 18,200 employees is threatened by the combined effect of the crisis and also since the ban on smoking in public places, dated on 2008, which resulted in the lowering of the number of customers on a significant way. The recent liberalization of games and online poker has worsened their fragile situation. Unfair competition conducted by illegal sites that abound on the web right now is another cause which led to this catastrophe for these physical casinos.
Source: Poker 777
Wednesday, 18 August 2010
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