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Used traditionally to discreet lobbying, owners casinos have decided, for once, to give voice publicly. Gathered under the banner of their professional syndicate, “Casinos de France,” the group Accor Casinos Barriere COGIT , Didot-Bottin, Edge , and some were left independent, Wednesday, June 9, to denounce the increasing tax burden that strikes, they believe the profession. Together they represent over 50% of total casino games – 2.54 billion euros. They want to put pressure on governments to encourage them to pursue measures to “simplify, clarify and adapt the regulations,” incurred by the former interior minister, Nicolas Sarkozy.
“In ten years, the share of samples of the state and municipalities has increased from 45.2% to 55.25% of total games, an increase of 1 point per year,” notes Georges Tranchant , owner of eponymous group of casinos. “We have seven different taxes,” adds Joel Mingasson, president of trade association and chief executive of Accor Casinos and there, without being alerted, we just learned from the press that the CSG would be increased 2 points, a surcharge of EUR 28 million for the occupation! ”
UNION CALLS FOR A SINGLE TAX
“We practice a profession in which the fiscal and social regulations are constantly changing, so that traders remain. It is necessary to stabilize it,” says Edge . “We created 10,000 jobs in ten years and today we employ 17 000 people in the 183 French casinos. We kept the job despite the decline in table games,” says Edge , which recognizes “preferred against the heart, look abroad when it comes to investing, because the tax is less oppressive, either in Switzerland or the Dominican Republic.”
The union argues for a single tax that it will build a “business model” that is not spent in the first change in taxation. Casinos de France also fears an increase of the CRDS (Contribution to the reimbursement of social debt). According to his calculations a point CRDS represents 130 million euros in additional charges.
Other issues remain unanswered by the government. The casinos are worried about a falling demand and would like to offer new games, including online games. The profession does not want to miss out on the Internet, especially as the PMU and French games are already there. She is ready for it to accept the same tax on Internet than in casinos. In a white paper submitted to the Ministry of Interior, Casinos de France explained its position and wishes. The book remained unanswered …
(Reuters) – If the family Partouche declined the bid made ??by Cinven and Permira by reason of a price deemed insufficient (18E per share), it did not, however, abandoned its proposed acquisition of 5 establishments Didot-Bottin group with which it has engaged in exclusive discussions.
Chairman of the Supervisory Board of Groupe Partouche , Isidore Partouche said yesterday, we continue to discuss all the hypotheses are possible ‘. Threatened with being demoted to second place in the rankings by the French Accor Casinos tandem / Barrier Group , Group Partouche hopes to be able to conclude the transaction by Oct. 31, a period corresponding to the end of its fiscal year 2004 (the Echos) ..
With regard to talks with the Anglo-Saxon funds Cinven and Permira, Isidore Partouche said that in his view, the case is closed ‘. A new offer would not however be excluded given that the two funds would have a right of first refusal on 100% of the capital, valid for one year beginning June 1, which may be exercised only once (Les Echos) ..
LAS VEGAS (AP) – The casino operator Mandalay Resort Group on Friday rejected an unsolicited bid of $ 4.85 billion of its competitor MGM Mirage, as inadequate.
Under the “terms of the proposed MGM Mirage, are asked to Mandalay shareholders to bear a disproportionate risk. It is not in the best interest of shareholders to Mandalay to accept a deal that gives control to MGM “on the possibility of closing,” said Glenn Schaeffer, Mandalay Resort Group.
Kirk Kerkorian, the octogenarian billionaire who has helped make Las Vegas the world capital of gambling, will become the king of American casinos if his group can convince MGM Mirage Mandalay Resort be bought for $ 7.9 billion.
The moment of truth on Tuesday. The management teams of both groups, “after talks throughout the weekend,” will present their proposed takeover of their respective boards.
Meanwhile, everyone keeps his face inscrutable poker player and games are not made.
“There can be no assurance that final agreement can be reached,” said Mandalay Resort Group, which nevertheless shows receptive to the offer.
The negotiations were long. Friday again, Mandalay Resort had rejected an initial offer from MGM Mirage launched on June 4, two days before Kirk Kerkorian does not celebrate his 87th birthday.
This weekend, both teams of negotiators managed to agree on a price: $ 71 per share, 600 million of bonds convertible into shares and the recovery of $ 2.5 billion of debt.
In total, MGM Mirage wants to put $ 7.9 billion on the table, or 600 million dollars more than the first proposal.
If the group is controlled by Kirk Kerkorian, takes it, he will have under his control much of the casinos that line the famous “strip”, the main avenue of “Sin City” Sin City.
Besides the giant MGM Mirage, the Mecca of boxing matches prestigious group also controls the Bellagio. This luxury hotel-casino, with tasteful décor and lavish fountains game – a feat for a city sitting in the middle of the desert – regularly hosts celebrities who come spend lavishly on their gaming tables
If he manages to buy Mandalay Resort, and if the competition authorities give green light to the transaction, MGM Mirage will also fall in his wallet the luxurious Mandalay Bay, just south of the “strip”, and some less prestigious properties but just as extravagant as the New York-New York and its rollercoaster or the Luxor, a huge pyramid of glass and concrete decorated on the theme of ancient Egypt.
Kirk Kerkorian, a colorful character, figure prominently in local history although it is generally quiet and lets his key men to manage its affairs.
It has helped make Las Vegas the world capital of gambling, first ferrying players in aircraft of the airline just after the war and then by building himself giant casino hotels.
“Somehow, he bet on the + + Las Vegas strip with this transaction,” said Bill Thomson, a University of Nevada in Las Vegas Sun daily.
In fact, Las Vegas is currently experiencing a renaissance and Kirk Kerkorian, an investor generally advised, wants to enjoy it.
Las Vegas promoters have tried, unsuccessfully, to sell the city as a family destination, throwing a veil over the game, striptease shows and other “exotic” for adults.
Today, the most sour of the city are instead put forward to attract customers: “What happens in Vegas does not come out of Vegas.”
If Kirk Kerkorian has his way, “What happens in Vegas will not come out of his pocket,” notes the Wall Street Journal.
Bern (ots) – June 14, 2004. The Board of Directors of Casino Zermatt decided to forego the sale of gaming house that waiver comes after several months of fruitless negotiations with investors and potential partners to save the gambling houses of the Federal Commission of game (CFMJ) formally withdrew the concession at the casino which was closed since September 28, 2003.
By letter dated June 9, 2004, casino officials informed the Commission Zermatt Federal Gaming Board (CFMJ) their willingness to give up the concession that had been granted December 3, 2002.
A little less than a year after its opening, the casino Zermatt was faced with serious financial problems. Attendance at the casino has been far below expectations. The home game has not reached the expected turnover in its business plan and has therefore made a loss.
The law requires casinos to have sufficient capital. Noting that the casino Zermatt no longer met this requirement, the Federal Gaming Board has suspended the grant last December.
Casino officials have actively sought Zermatt investors, partners and other financial solutions to revive the operation of the casino. These efforts failed, the Board of Directors has decided to permanently cease operation of the casino Zermatt and waived the claim. The Federal Gaming Board has therefore formally withdrawn the concession June 10, 2004.
Additional Information:
Jean-Marie Jordan, director CFMJ, tel. 031 323 12 05
LOS ANGELES / NEW YORK (Reuters) – The Board of Directors of Mandalay Resort Group agreed Tuesday night’s takeover bid of 4.8 billion dollars of its competitor MGM Mirage, which should give rise to the world’s largest operator of casinos.
Glenn Schaeffer, president and chief financial officer of Mandalay, told Reuters that the decision was taken unanimously at the end of a seven-hour meeting.
“We have reached an agreement,” he said.
Another source close to the talks said the deal, which also includes the recovery of 2.5 billion debt and $ 600 million of bonds, would close by the end of first quarter 2005.
MGM Mirage, the third U.S. operator of casinos, noted Monday its offer to increase it to $ 71 per share instead of $ 68 previously.
Both titles had increased Tuesday in the prospect of an agreement on the takeover bid which, according to MGM, will be immediately accretive. MGM took 2.7% to $ 49.50 and Mandalay 0.41% to 67.88.
The new group will become the global leader with a third of the casinos and half the hotel rooms on the Strip, the famous game in Las Vegas.
Mandalay, the number four U.S. had rejected the first offer announced on June 4, claiming that she was alone bear the risk of a veto competition authorities, the group in this case to pay a penalty of $ 100 million.
MGM has waived this clause during the weekend, giving full play to its board to negotiate an agreement.
This takeover not only to consolidate its positions MGM in Las Vegas but also to strengthen the business travel segment, Mandalay opened last year with a huge convention center doubled in a hotel.
MGM is hopeful that the authorities approve the takeover and account for that highlight the rise of tribal casinos under control in the neighboring state of California.
In cases where the authorities would order divestitures, assets may be for sale in Las Vegas certainly be interested Caesars Entertainment and Harrah’s Entertainment, the current number one and two of the industry by turnover.
Eric Zaman, Seraing, 38, loves the casino. A passion inherited from his grandfather, a former middle of the game
In 2000, the grand-son invented a board game with 32 cards, blackjack neighbor as evidenced by the name he gave: Black Micmac. The time to mature the idea to market, he presented his concept to the gaming commission of the Belgian Ministry of Interior. Bingo: the expert is found not uninteresting.
Put in trust, Eric Zaman believes in its chances of selling to large black Micmac foreign casinos. And secretly dreams of hitting the jackpot. In Las Vegas, who knows? As he speaks only French, he intended to start the hexagonal market.
In 2003, former employee of the cultural center is aimed at Seraing Awex (Walloon Export Agency), which puts him in connection with casino operator. These professionals invited him to apply for a license to the executive subcommittee of the races and games of the French Ministry of Interior, and it goes through a routine investigation of background information.
Here begins his nightmare.
GR French check with the Belgian police that Eric referred Zaman has done nothing wrong. And here is the finding of the RG faith on information received from our BCS (central bulletin reporting): It is very unfavorably known Belgian authorities since 1986, including cases of hostage takings and bombings . Nothing less!
The Seraing in vain to protest his innocence, we did prove mistaken identity, that his criminal record as a maid, to no avail: there black casino Micmac non grata in France.
The sky falls on his head as if he had lost all his money at roulette. But he fights. He went to the police of the police, file a complaint to the prosecutor of Liege and challenges the Department of Justice where, to crown all, confusing it with another Zaman, treated like a dirty …
Today, cursed the inventor seeking redress, at least moral if not financial. It made me look like a dangerous criminal. If I go to France, am I going to jail? I was messed up. The casino operator does not want to hear about me.
The latest news and lawyer Eric Zaman preparing to enter the federal mediator. Hoping to unravel the incredible misdeal …
Bern (AP) The Federal Gaming Board (CFMJ) has temporarily banned the installation of automated type Tactilo “in Swiss German. This decision is valid for the duration of the procedure that will determine the legal status of these devices, announced Thursday CFMJ. PLCs installed in Western Switzerland are not covered by this measure. This is to establish whether these automata lottery under the Lotteries Act, as alleged by the Loterie Romande and other lotteries, or if they are slot machines under the Law on homes Thurs In the second case, they could be installed in casinos. On 19 May, the Federal Council decided to temporarily suspend the ongoing revision of the Federal Act on lotteries and paris professionals, leaving the courts to clarify the situation.
Loterie Romande already operates 600 of these “Tactilos” in bars and restaurants, and plans to arrive at number 700. In 2001, these machines have reported him some 79.8 million francs. The amount per day per e-lottery game exceeds that of an automated gambling in a casino. German-Swiss, Swisslos wanted to introduce a game like and put 400 “Touchlot” in places publics.AP
First complaint, France, a player against a casino.
After smoking crusade against the tobacco industry and obese war against fast food chains, players who file complaints against casinos. In France, for the first time a casino has been summoned before a court of first instance by a player who has left 600,000 euros in ten years. The story of Jean-Philippe Bryk, 43, started as though a fairy tale. In 1995, during his first visit to the casino’s Grand Café de Vichy (group Partouche ), the garage pocketed 1500 euros. A few days later he returned and, bingo, earns ten times more: 15 200 euros. End of the fairy tale, the beginning of a nightmare. Gradually, Jean-Philippe Bryk happening more and more time slots and poker, 99% in the same establishment. For his consuming passion, he abandoned his business, takes over, sells its assets, the maternal inheritance squandered …
“No provision”. “Of course my client has some responsibility, said his lawyer, Gilles-Jean Portejoie. But we blame the casino for not having detected his addiction, has been left to settle, and even to have encouraged. “And the lawyer examples of shelling the accusers. Thus, no member of the casino has tilted when Mr. Bryk has started spending all of his days in the arcades, sign up to “twelve checks bounced EUR 500 in less than eight days.” Jean-Philippe Bryk was rather considered a VIP who were offered drinks and dinners. Worse, according to Gilles-Jean Portejoie: a day when the faithful client had twice broken a slot machine, casino it meant a ban on access … before changing his mind ten minutes later because “Mr Partouche passed the towel. ”
“I went to sign their checks 123 to 500 euros in four months without any reaction. I was a player unlimited, “says Jean-Philippe Bryk, who believes that court action for him is the best therapy. He added: “I started to realize when I could speak aloud. So through this process, I also hope to help others. “The leadership of the group Partouche , one suspects, do not share that view. “This gentleman is an adult and sane, denies Hubert Benhamou, chairman of the board. At no time do we have forced her hand. We verify that our customer has his faculties, we inform, but we can not stop people from playing are higher than they had planned to play at home. They even suggested not to accept their checks or their credit cards, but they reply that they are sufficiently large to decide. ”
Class action. Other countries are experiencing similar developments. In Austria, an addict of the game have recently won a lawsuit against a casino. Same in the U.S., despite the prevention policies implemented by the casino operator. Players and have filed a class action against the use of slot machines in the gaming industry, which they see as unfair. They believe that through technology, these machines are programmed to believe that the player can win the next move, when in reality they leave him no chance. The trial must be held in San Francisco, and players are defended by famed attorney David Boies, who represented Al Gore during the post-election battle in Florida.
Several major groups develop the prevention of abuse of the game, to recruit new clients and earn the good graces of the state.
Spread the word: the casino operator are humanists. Not one to let their customers on the straw. “It’s a real moral problem to say that ruined people,” sighs Georges Tranchant , CEO of the same name. So, Casinos de France, the union representing, among others, Accor, Barrier and Edge (but not Partouche ) and which generates more than half of sales in French casinos, presented last week at a press “kit to prevent potential abuse of the game” for employees. The principle is simple, according to Joel Mingasson, President Casinos de France and the Management Board of Accor Casinos: “When you mountaineering, it warns people that it’s dangerous. In casinos, it’s a little similar. We have a moral responsibility to prevent people to go beyond the boundaries such as bars or nightclubs with alcohol. ”
Schizophrenic. The initiative is tasty, although a schizophrenic hair. “Not easy to explain to a customer losing: tonight is not your night, go,” says Joel Mingasson. So much so that the project, presented his time management of Accor Casinos, had collected 68% of negative opinions … But for the industrial sector, the stakes are high. First, because “someone who is banned from the game is a failure for the casino, which has lost this customer forever,” according Mingasson. But mainly because this charm offensive is accompanied by several claims from the casino sector. Who, with a growth of 3.7% consider themselves “a little behind” in relation to their competitors (PMU and French Games) in a game market that, overall, rose by 6.7%.
“Our growth is mainly due to new or new casinos slot machines, said Joel Mingasson. The majority of casinos that lived on their laurels, constant to park machinery, experienced zero growth or a decline because the new customers lack of machinery. ”
Hence the desire of casino operator to see their park slots around 17,000 today grow quickly and without hindrance. “For permission to open 10 machines, we need a record of 35 rooms and 6 months of work,” moan the casino operator, irritated by the highly regulated market and “finicky controls” of the administration of Trust: the sub-directorate of the Races and Games Department of the Interior, responsible for ensuring “regularity and fairness of games.”
Tolerance. Mistrust dating back to the first law on casinos, dating from 1907. “The exploitation of gambling is forbidden in France, and we need to open a casino exemption from the Minister of Interior, the sole authority to issue such licenses, says it does in the Observatory games. To summarize, the state banned the game in some cases but allows private companies to operate casinos through sampling. This is called tolerance, which benefits the public finances. ”
This position irritates even more manufacturers of the game that the PMU is growing in all directions, “the French Games released a new game every four months, usually games that look more and more to our casino games. .. “And that these two operators are continuing to grow on the internet, the casinos remain excluded (Libération, May 15, 2004). This does not prevent the French cyberflambeurs access to hundreds of lotteries that are proliferating across the network from abroad.
Caution. But it is the taxation of the sector in which the game industry which would have increased 10% in ten years, reaching 55.5%. Already subject to seven different taxes, the casino operator and have been unpleasantly surprised to learn that they will soon bear a new increase of two points of the CSG, which is expected to offload about 28 million. “It’s an incentive for doing business next door, annoyed Georges Tranchant . In my case, I invest abroad as often as possible. “Especially in Switzerland and the Dominican Republic. In short, all arguments intended to alert the authorities against “loss of competitiveness,” announced the French casinos.
(1) ARPU rose 9.5% and French 4.8% of the Games.