Groupe Partouche strengthens Cannes presence with 80% stake in Casino Les Princes

Groupe Partouche is expanding its presence in Cannes by acquiring an 80% stake in Casino Les Princes from Jesta Fontainebleau. The deal follows the group's recent relocation of its 3.14 Casino to Palm Beach and the launch of Royal Palm in December.

This transaction has already been approved by the Ministry of the Interior, according to local media reports.

“Jesta Fontainebleau, a new delegate since 2022, who will operate until 2032, and owner of the capital of SAS Casino Les Princes, has turned to a partner for a change of capital,” said Thomas de Pariente, the deputy in charge of tourism and events, in a statement. “The Partouche group has positioned itself to take over 80 percent of the capital of the casino company."

Fabrice Paire, Chairman of the Management Board of Groupe Partouche, confirmed the acquisition, stating: "This takeover will anchor and strengthen the group’s Cannes strategy, by completing the offer of the Casino Royal Palm at Palm Beach. We are delighted with this new adventure with our partner Jesta and to welcome the teams of this new casino to the big family of Groupe Partouche.”

Casino Les Princes currently operates 91 slot machines, 20 electronic table game stations, and 17 traditional gaming tables, as per Journal des Casinos. By the end of the 2023-2024 financial year, the casino generated a gross gaming revenue of €17.15 million, placing it 54th in the French casino sector.