Operator News
France – SFC continues growth into first half of 2017
By Phil - 31 July 2017
The Société Français de Casinos (SFC) Group has continued its growth throughout the first half of 2017 with revenues coming at €12.327m, an increase of 25.4 per cent.
This follows growth of more than 20 per cent in 2016 following the acquisition or part acquisation of five casinos. The SFC bought 100 per cent of the capital of the casino of Chamonix-Mont-Blanc and 47 per cent of the capital of the casino of Capvern during the financial year. The activity of the latter acquired at the end of the financial year will only be reflected in the consolidated financial statements as of November 1, 2016. The Group also acquired a 49 per cent stake in Société Franco-Belge de Casinos (SFBC) Controlled jointly with the Belgian Ardent-Circus Group of casinos, which holds the balance of the capital. SFBC acquired 100 per cent of the casinos of Port-Leucate, Briançon and Carnac respectively in January, March and September 2016.
The group’s subsidiary Société franco-belge de casinos, which included contributions from Port-Leucate, Briançon and Carnac, reported half-yearly sales of € 18.155m, representing an increase of 67.9 per cent, of with organic growth of 4.4 per cent.
The group said that ‘this internal dynamic was higher than the average trend observed on the market, validating the Group’s know-how to enhance the attractiveness of its establishments.’
The group has enjoyed great success from launching the Nuit de la Chance on March 31 simultaneously in all of its casinos. New machines were successfully installed during the semester with GG coming in at €11.3m, marking a remarkable increase of 77.1 per cent or four per cent in organic terms.
Half-yearly adjusted EBITDA increased by 161 per cent to €2.4m.
The group said: “This level is higher than the level achieved last year for the full year, illustrating perfectly the success of the Group’s change in size. This spectacular development is based on good management for all establishments, all of which have contributed positively to this indicator, with the exception of Chamonix, which is in balance. ”
The SFC said: “We will confirm in the second half the good orientation recorded during the first six months of the financial year due to investments in new generations of slot machines in Capvern and Port Leucate. In terms of profitability, the Group will continue to take advantage of the economies of scale associated with its size change and will continue its strict cost control.”
The casino of Bagnères-de-Luchon is waiting for its licence with an opening scheduled for June 2018.
