Accor gambles on European casino merger
French hotel group Accor has announced it will be merging its casino assets with the Barriere Desseigne family to create a leading European casino group.
The new group will operate 37 casinos and nearly 5,000 slot machines across France while the deal means that Accor, which had recent suffered from a drop in sales figures, will be able to reduce its debt by more than 100m Euros.
The ownership division leads with the Barriere family, who will hold 51 per cent of the new group with Accor holding 34 per cent. The private investment group Colony Capital will hold a further 15 pre cent and will be investing 100m euros. Details: www.accor.com
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