Merkur Signs Final Agreement for 95 Percent Stake in Casigrangi to Control Société Française de Casinos

Merkur.com AG is nearing completion of a transaction that will deliver controlling interest in Société Française de Casinos (SFC). A subsidiary has executed the final agreement to purchase a 95 percent stake in Casigrangi, the entity that holds majority ownership of SFC.

The buyer, Merkur Spielbanken Beteiligungs GmbH, is wholly owned by the Gauselmann Family Foundation. It will acquire the stake from GPG Groupe Philippe Ginestet and DOFA at €6.19 per SFC share. DOFA will retain the remaining 5 percent in Casigrangi under reciprocal put and call options exercisable after closing.

Casigrangi holds 4,135,434 shares of SFC, representing 81.21 percent of share capital and voting rights. The initial stake carries a value of approximately €24.3 million. Completion triggers a simplified tender offer for the remaining shares at the same price, producing a total implied deal value of €31.5 million.

Acquisition Parameters and Conditions

SFC operates four casinos in Châtel-Guyon, Collioure, Gruissan, and Port-la-Nouvelle, all licensed for table games and slot machines plus associated hospitality, food service, entertainment, and show business activities. Casigrangi separately operates three casinos in Granville, Megève, and Mimizan with equivalent authorizations.

The transaction requires regulatory approvals, including consent from the French Ministry of Interior under Article L. 323-3 of the French Code de la sécurité intérieure. Merkur intends to seek a squeeze-out of remaining SFC shareholders and delist the company from Euronext Paris if conditions are satisfied. The joint release stated: “In any case, the SFC’s Board of directors will establish an ad hoc committee to oversee and facilitate the work of the independent expert to be appointed in accordance with Article 261-1 I of the AMF’s General Regulations, and to prepare a draft reasoned opinion on the merits of the Offer and its consequences for SFC, its shareholders, and its employees.”

Path Forward for the Transaction

The parties anticipate closing during the first quarter of 2027, with the tender offer filed with the French Market Authority in the first half of that year. Clearance and opening of the offer will follow the AMF timetable. This would constitute the third acquisition of a French land-based casino operator in the past 18 months, after Banijay Group’s purchase of JOA Groupe and Novomatic’s acquisition of Vikings Casinos, as reported by Slot Beats.

French casino assets continue to draw strategic buyers. Execution turns on timely satisfaction of the cited regulatory and internal conditions.

Reporting: Slot Beats

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