Groupe Partouche rises from 2% to 14.35 euros. French casinos have avoided the worst for last night’s Eve, traditionally synonymous with attendance records. 4 of the 5 trade unions had signed an agreement with the syndicates December 30, which averted a strike scheduled on December 31 (only two schools remained closed in France). Employees of casinos have therefore received their main demand a wage increase of 3 to 4%.

The 2003-2004 season for the 188 French casinos games, saw a further increase in gross gaming revenue (GGR), which corresponds to the difference between wagers and winnings. It stood at 2.613 billion euros, an amount higher than 2.6% 3.68% 2002-2003 after the previous season.

This new season has confirmed the Casino of Enghien, Paris region alone facility as the first casino games in France with a PBJ that exceeds the 100 ME. The casino belongs to the group of Enghien Lucien Barrière , the new French leader in the industry. Concerning Group Partouche , 4 of its institutions are in the top 10 French casinos in terms of PBJ (Lyon-La Tour-de Salvagny, Aix-en-Provence, Forges-les-Eaux and Saint-Amand-les-Eaux). Saint-Amand-les-Eaux has made ??it into the top 10 of the past season at the expense of another property group Partouche , the Lyon City.

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Started December 24, the strike continues croupiers casino Niederbronn. Unions and management are sticking to their position.

Like every night since the beginning of the movement to the appeal of unions CFDT and FOR, the thirty dealers strikers installed on the front steps of Casino Niederbronn history of customer awareness and collect donations. “It’s been 33 years that I do this job,” said one man, and the last four years we have lost 40% of our salary … .

Inside, while the ground floor slots crackle, stewards are received by the casino management on the first floor. At the end of lengthy negotiations, each sticking to his guns. “We have made proposals, says director Lawrence Balmier. It is now that reason prevails. ”

The strikers did not intend it that way. The continued movement voted unanimously at a general meeting. “We believe that management’s proposals are inadequate, says Jacques Hauser, Delegate TF. The strike continues until further notice. We did not set a deadline … .

“A local problem”

The strikers’ demands do not change. It focuses on two main points. The first concerns the magnitude of work. Management has decided to reduce by two hours each day the opening of the Hall of traditional games. For dealers whose tips are the basis of remuneration, it means less money collected. It also appears there, which set fire to the powder. “This was done behind our backs, in secret,” said Jacques Hauser.

Second claim of the strikers: The raising of the minimum guaranteed wage. The dealers have suffered in recent years the rise of gaming machines and the arrival of the euro. In addition, the casino opened Ribeauvillé not to reassure them. But what about the progress made recently by the profession at national level? “This is primarily a local problem,” punctuates the delegate TF.

Still, the casino management does not appear ready to yield to the determination displayed by the dealers, especially for her, the financial consequences of the movement are “insignificant.” In other words, she thinks that time is to his advantage. “We went close to an agreement and we reached the limit of what we could offer,” said Lawrence Balmier. And to clarify that, despite the strike, traditional games to work regular hours from now, with a reduced number of tables though.

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After more than a year of surprises, the casino opened its Ribeauvillé playroom Saturday, 1 January 2005. The first customers were able to discover the six roulette tables and blackjack English.

For 15 years, Frederick applied to the letter the two instructions given to him one day a Belgian friend when they all walked through the door of a casino Luxembourg: “Never forget his ID card and always fix the amount you will lose! ”

In turn, this Obernois fifties briefed his five friends, all beginners, come Friday night, minutes before the stroke of midnight, to celebrate the opening of the casino Ribeauvillé (see DNA, 31 December), New Year and spend “for fun” a few hundred dollars.

45 000 banned from games

For it to 0 h as the location director, Jacques Leveque, could lawfully open the large door to the playroom and six tables of roulette and blackjack. The earliest customers still had to wait several minutes before finding the space cozy and private. “It’s a little long tonight because we have to go all the data on identity cards: surname, date of birth, address … “Said Jacques Leveque. Indeed, everyone must show their credentials before performing the 10 € for regulatory entering the room. Information that helps to block gambling prohibitions are 45,000 in France.

While the girls were swinging Tropical fever of 150 clients that Christmas Eve at the casino, players began to bet on their favorite numbers. On 28 to Frederick, his day of birth. “Tonight, I accept the fate of lost 200 €,” smiled one who has realized his “biggest coup” in Biarritz. “F 36 000 in earnings in a setting of 1000 F. Also on the 28! ”

Casual gamer, “said Frederick balance its books after 15 years of casino. “The game, it’s still fun. When I win a large sum, I share it. After winning in 6000 F Niederbronn, I invited my wife in a starred restaurant where we spent it all. ” He regretted that many allow themselves to take the game to become totally addicted. “Like the man I met one day at a roulette table, completely covered in sweat, which continued to lose and ended up out again his checkbook to request new tokens instead of just go “.

2 and 7

He was soon half past one, Jacques Leveque has the smile of a man who has finally achieved his goal. At the head of a team of 30 people including 14 dealers, the director will now tackle the next important milestone for a casino: the request for authorization to operate slot machines. Of bandits that had found Ali and Nora, a young couple who came with two other friends to celebrate the New Year Ribeauvillé. These novices, whose playing experience was limited to the discovery of the wheel in Deauville, hoped to win by betting on the 2 and 7. Not having their ID card on them, they could not access the game room So they went to try their luck in Basel.

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The deputy mayor of Dinant is suspected of having favored the granting of the casino group Accor.
Richard Fournaux proclaims his innocence.

The information was confirmed on Monday night: the deputy mayor of Dinant, Richard Fournaux (MR), was charged with passive corruption by the judge Olivier Dinant Bontyes in the case of the “Casino de Dinant” . The case was heard in Brussels by Judge Van Espen before being sent to Dinant. Richard Fournaux maintains his innocence.

A few days ago Richard Fournaux was heard twice by the investigating judge Olivier Bontyes in charge of the case, which finds its origin in the award, in 1999, the concession of Dinant casino group Accor. An award challenged by the ousted former dealers, Camilla and Philip Mantia, who had therefore decided to lodge a complaint against the Mayor of Dinant, Richard Fournaux. “Somehow, I am relieved that this statement ends,” said Richard Fournaux Monday night. “Now that the court do its work. I will make mine in defending myself because, I repeat, I did nothing wrong in this case. And if it all over again, I would do everything the same way. ”

No money

What is wrong to be in Richard Fournaux on suspicion of “passive corruption”? In this case, Richard Fournaux did not receive money from the Accor Group. But justice suspects in exchange for the grant of the casino, the Accor group has contracted with the company paint Bayard Decor (formerly Art and Decor) whose patron is Richard Fournaux. When there is a suspicion of corruption, there is not only corrupt but also a corruptor: we’ll see if the Accor group or some of its members are also worried.

What can happen now? Fournaux Richard is protected by parliamentary immunity. And since the case-Dassaut Agusta, the legal provisions concerning parliamentarians have changed. Under the old regime, the lesser duty would be a record, which was then sent to the House that the Parliamentary fell. The system has evolved. The prosecution against a member may request that can be charged without any waiver of immunity. In 2000, Richard Fournaux had been searched after the first president of the Court of Appeal in Brussels had agreed. Only for a possible referral to the Correctional Richard Fournaux immunity should be lifted.

The file will soon be forwarded to the prosecutor, who will be three possibilities: either he requested additional requisitions, which seems unlikely given the length of the investigation. Either he delivers an indictment of dismissal or removal of an indictment. In the latter case, the prerequisite is the lifting of immunity of Mr. Fournaux.

It is therefore possible that a request to that effect would soon be forwarded to the Speaker Herman De Croo. Which likely constitute a commission to study the issue. It will then offer to all members whether to lift the parliamentary immunity of Richard Fournaux.

If good seat as an MP in the House MR, Mayor Richard Fournaux is labeled “independent” locally, at Dinant. Will he or will he continue his activities? Theoretically, if his immunity is lifted, he could be suspended from office as mayor by the governor of the province of Namur, Amand Dalem, a “precautionary suspension in the interest of the service.” But we’re not there.

It could be a minister

The last months have not been easy for Richard Fournaux. After a highly publicized transfer of CDH to the MR, Richard Fournaux has seen his star fade from month to month. So much so that the MR did not dare to bet very big on the head deputy mayor of Dinant during the preparation of voter lists. And that he remained at HRC, it might be Fournaux Walloon Minister, today …

Monday night, the MR has taken note of this decision and hoped that justice take its course …

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The croupiers casino Niederbronn-les-Bains (Bas-Rhin), on strike since December 24, decided to resume work on Wednesday following an agreement with management, officials said a union source. After twelve days of conflict, an agreement relating in particular to maintain a year-end bonus, reduced from 250 euros to 100 euros, and the payment in January of an exceptional bonus of 300 euros gross to all Employees games-was found Tuesday under the mediation of the departmental work, told AFP Martin Fischer, Managing Striking casino Niederbronn-les-Bains, which employs approximately 160 employees including 35 dealers however, have not satisfied the claim of a grid of minimum wage above the national grid, according to Fischer. Management has also undertaken to organize a meeting in April to assess the impact of changing the opening hours of game rooms repelled from 5:00 p.m. to 7:00 p.m. and opened Jan. 1 in Ribeauvillé (Haut-Rhin) another casino in the same group, Lucien Barrière SAS, on the salaries of personnel games. The memorandum of agreement to end conflict, of which AFP has obtained a copy, also provides that in the month of March, the percentage of the mass of tips to be distributed among employees of games, “currently 90% will increase to 93% “if these tips prove lower than the previous year for the same period.

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FAMILY SHAREHOLDERS ARE OPEN TO A CHANGE OF CONTROL

While Group Lucien Barriere and Accor Casinos just formalize their union, Group Partouche may well be a marriage proposal over the next five months. Permira and Cinven, two investment funds, have indeed a right of first refusal expires May 17, 2005 to submit a new bid to Isidore Partouche , founder and chairman of the supervisory board of the casino operator. Financial Partouche , which holds 70.6% stake in the group, refused the first time in early June, the advances of the two suitors who had offered 18 euros per share. With hindsight, this might seem ambitious release from the management, knowing that the action group Partouche rating now around 14 euros. Isidore Partouche nonetheless open to the prospect to give his group. The whole question now is what could be the equilibrium price between, on one side, the claims of Isidore Partouche and on the other, the constraints of ROI for a potential buyer. “The negotiations of this type are generally long-term,” says Alain Cens, CFO. Now the 417 million euros of net debt that were in the company’s balance sheet at April 30, 2004 (interim accounts) and represent 67% of its market capitalization, weigh negatively in the balance.

Still, the prospects for a change of control of the group had pushed the value up to a record high of 20.5 euros, 17 May 2004. Since then, the speculative character has disappeared, as shown dropping from 33% in share price. It must be said that the context has become less favorable for the casino operator who must cope with a sluggish tourist activity and a higher taxes on gross gaming revenue. Not to mention a possible tension on the payroll implementation édivence strikes by year end.

Even if the new entity created from the merger between Lucien Barriere and Accor Casinos scoop first place in the French sector in total gross proceeds of the games close to 800 million euros, Groupe Partouche is also needed, with 27.2% share market as a major player in the profession. It differs advantageously from its counterparts listed on the Paris Stock Exchange by its status as a pure player who leads by a comfortable operating margin, higher than 20%.

A tourist is still fragile

Some obstacles could, however, still influence the action and delay the rebound before the eventual launch of an offer to purchase. First, uncertainty about the direction of tourism in the near future. “The summer season was particularly bad in southern France, especially during the months of August and September,” said Alain Cens. In this context, the casino operator has experienced a slowdown in its revenues in the fourth quarter of fiscal year ended October 31, 2004. In total, the annual turnover of Groupe Partouche (452.1 million euros) has limited its growth to 3.8%. Penalizing other element: from 1 January 2005, the CSG, applied at a rate of 7.5% on gross gaming revenue after deduction of 15% was increased by 2%. According to Alain Cens, this overhead can be estimated at “about 8 million euros”. In general, the casino sector is facing a loss of power for two years under the effect of falling stock markets which did not allow fans to play, as usual, possible capital gains, but also the slowdown in consumer spending and declining foreign clients cooled by a strong euro. So this year, the gross national product of the games has posted a growth rate of 2.6% after a decade of double digit growth.

After the takeover of European Casinos in 2002 which was financed by borrowing, Groupe Partouche , which has 4,505 slot machines in France as a result of obtaining 224 new permissions for the year ended October 31, 2004, spent its cash to debt reduction and internal development. The publication of the interim attests. During the first six months of the fiscal year ended October 31, 2004, operating margin rose from 22.1% to 24.1% of turnover, which reached 373.8 million euros, growth of 9.1%. This performance was mainly due to the opening in July 2003, casino Meyrin in Switzerland and the strong contribution to profits “Pasinos (complex comprising a casino, restaurants and meeting rooms). The sites of St-Amand-les-Eaux, Aix-en-Provence have in this respect, free of respective operating profitability of 27.9% and 41.2%.

There is also a decrease of 4.4 million euros of expense over the same period, due to deleveraging of the group, which allowed earnings to jump 43% to $ 41.6 million euros. Even if it remains high (1.6 times equity), net debt was reduced by 24 million euros, amounting to 425 million at March 31, 2004. This clean balance sheet is now essential to balance the economic model of Group Partouche .

The procurement of new machines, which represent, on average, almost 93% of gross casino gaming and contribute more to the results that the trades of hotel and catering, is, indeed, the nerve of war to the professionals. However, given the rigidity of the Legislative Department of the Interior to permit the operation of the famous “bandits” – only 470 permissions were, on average, been awarded annually since 2000 – the groups prefer to carry out acquisitions to increase their fleets.

Debt relief required

Faced with this dilemma, Groupe Partouche must continue to pay off its balance sheet even if its shareholders do not offend distributing more dividends, as is the case since 2002. This should be the same this year. Fortunately, thanks to higher operating profitability, the casino operator has an ability to repay substantial: net debt stood at least six years of cash flow. Possible sale of hotel properties, such as, earlier this year, the Meridien Part-Dieu in Lyon and the Hotel du Golf Tower Savagny which had yielded a profit of 15 million euros are possible. The sale of unprofitable casinos is also a possibility. “The casinos of San Roque in Spain and Agadir in Morocco does not meet our profitability goals,” declared Hubert Benhamou during an interview, January 17, 2004, Journal of Finance. Among the latest cases in the study include the proposed takeover ever considered this summer, but fail, from five games, split between Upper Savoy and Switzerland, with the group Didot-Bottin. In addition to the expected reduction in financial costs and potential gains in market share in France, Groupe Partouche could enjoy another lever about its future performance: the opening of new schools in areas where the tax rate on the gross gaming revenue is significantly lower than that imposed by the French tax authorities (56%). Of a total of 52 casinos, Group Partouche has in 7 out of borders, including three in Belgium, where the sampling rate of around 40%. It is therefore a particularly attractive host country for the group.

In total, we expect a continued operating margin above 20% for the year ended October 31, 2004, against 21.6% last year and a 20% increase in earnings Annual net (21.2 million). As social tensions persist within the group and are likely to penalize short-term action, speculation about a takeover of the group could resume quickly. After a takeover, the amount of exit ticket offered to minority shareholders should be well above the market price. Recent sales of casinos were made on the basis of a price equivalent to about 1.8 times the gross gaming revenue. However, the enterprise value (net debt + market capitalization) of Groupe Partouche is only 1.4 times the gross gaming revenue 2004. Action should therefore be at least 18 euros in case of transfer, control premium included. According to the method of discounted cash flows and on the basis of a self-financing capacity of 80 million for the year ended October 31, 2005, valuing Group Partouche came to 19 euros per share.

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Driven by the success of the Euro Millions was launched Feb. 13, the French Games (JDF) in 2004 recorded a record turnover of 8.55 billion euros, up 9.8% 2003 (7.79 billion). In 2003, the JDF has increased its turnover by 4.8% over 2002.

In announcing Friday in a statement its 2004 sales, the JDF has attributed this increase “the success of its new Euro Millions, which was launched with nine other European lotteries, whose revenue amounted to 587 million for the EOD.

Euro Millions lottery first European, was launched February 13, 2004 by France, Spain and Great Britain joined 8 October by Luxembourg, Belgium, Switzerland (two lotteries), Portugal, the Ireland and Austria. It is a Portuguese player who has, since November 26, the absolute record gains on the Euro Millions with 43,756,502 euros.

Of the thirteen winners of the first row (five numbers and two lucky stars) in these nine countries, France, where two million people play on average each week in the Euro Millions, six winners (10 to 33 million euros).

This is an anonymous couple of retired staff and their son, who holds the record gains in all categories in France since the Lottery in 1976, with 33,816,137 euro gained for a newsletter Euro Millions validated Carmaux (Tarn) in May They are followed by Pascal, butcher Bègles (Gironde), who pocketed a check in December of 26,215,627 euros, also a Euro Millions ticket.

All the players have shared the JDF in 2004 to 5.16 billion euros in earnings, or 60.3% of sales, according to the JDF, and 193 people received a check for more than a million euros.

But the State will pocketed for 2004, the biggest gain since the JDF will donate at Bercy 2.3 billion euros, “which 10% is allocated to sports development,” according to the EOD.

The other draw games (Lotto, Keno, Rapido) show an increase of 1.9% while the scratch games, according to the JDF, posted growth of 2.3%.

Furthermore, says the EOD, the prognosis sports games totaled 221 million euros (213 in 2003).

For the JDF, “these results support a model of games to the general public to play moderate amounts.” In 2004, she concludes, the JDF “continued to assert its role in balancing the public need renewing its offer with its security needs and coaching the game.”

In 2003, the French have wagered a total of 32.3 billion euros in casinos, racetracks or on the 40,000 sales outlets of the JDF, or 88 million euros per day.

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The French, according to calculations by the Tribune yesterday, invested 8.15 billion euros in 2004 in games of chance, in the Euromillions tiercé through the bandits. The three game operators (casinos, PMU and French Games) posted record results. Boosted by the Euromillions, launched in February, the turnover of the French games (EOD) climbed 9.8% to 8.55 billion euros. In races, the PMU, with its 6.5 million punters (500 000 more than last year), has a turnover of 7.557 billion euros, up 7.6%. With 2 billion euros, Quinta, its “flagship” represents 25-30% of profit. As the 188 casinos in France, they show, with 2.613 billion euros, gross gaming revenue (GGR) up 2.6%. Or, according to the group of casinos, the slowest growth in the last fifteen years. Growth that is up to the opening of new facilities and installing new slot machines. They constitute the bulk of the casino business, generating over 93% of total GGR.

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The institution has achieved a turnover of 81.7 million in 2004.

The Casino Barrière Montreux ended the year 2004 on a turnover of 81.7 million against 60.2 the previous year, or 35.6% increase.

“This is good progress,” summed up yesterday Gilles Meillet, Managing Director, when presenting the 2004 results of the institution. The latter received nearly 435,000 visitors during its first full year.

The previous year had been partly under the seal of the transformations. “In 2003 we worked on a basis of 311 days only,” says the director. This year, officials still want to boost the establishment of some 6% and their sales surpass the $ 87 million. To attract customers, including the institution intends to build a new entertainment venue with the creation of a nightclub called “Mountain Club”.

The opening of the latter, recall that the passage of Freddie Mercury in these locations is planned for spring. It will obviously take place in a part of the late “Mountain Studios”, owned by Queen from 1979 to 1991.

The development offers slot machines, including being a partner in the Jackpot Casino Swiss Inter with 3 to 4 million to the key, should also increase the attractiveness of the casino.

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Two masked gunmen have made back about 300,000 euros. This is the second time a robbery was committed at the casino in Annemasse.

Heist at the casino in Annemasse, Haute-Savoie: Two masked gunmen have made back, Monday, January 17, under threat, some 300,000 euros to fund the development of games, it was learned from sources judiciary. The two thugs were able to flee in the car of an employee. The investigation was entrusted to the antenna of Annecy SRPJ Lyon.

Second robbery

This is the second time a robbery was committed at the casino in Annemasse. In 2003, six men had been put over 500,000 euros. They were arrested several weeks later.

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