In a move worth €35m, French investment firm Fimalac has acquired a 10 per cent stake in Société Fermière du Casino Municipal de Cannes.
Owned by the Desseign-Barrière family, SFCMC owns and operates the Majestic Barrière and the Gray d’Albion hotels, as well as the gaming properties Casino Barrière Croisette and Casino Barrière Les Princes.
The decision to acquire a stake in the company is seen as an opportunity for Fimalac to further strengthen its ties with the Desseigne-Barrière family following its purchase of a 40 per cent stake in Groupe Lucien Barrière from hotelier Accor in March this year.
The casino group remains 60 per cent owned by the Desseign-Barrière family.
