The Société fermière du casino municipal de Cannes (SFCMC), which is controlled by Lucien Barrière, has released its financial figures for the 2020-2021 fiscal year, which showed a profit of €84.6 million.
Gaming revenue was down 23.5 percent on a year-over-year basis. While accommodation revenue increased by 113.2 percent from the previous fiscal year, with an occupancy rate of 60.9% (up from 55.2%) and an average revenue per room of €386.6, compared to the previous fiscal year.
The operator of the Casino Barrière Les Princes stated that it “had not applied to prolong the business beyond October 31, 2022.” As a result, the Casino Les Princes concession will end on October 31, 2021. An agreement was reached with the city of Cannes for the Casino Barrière Le Croisette concession, allowing the casino concession to be prolonged for another year, until October 31, 2022.
“The gaming, catering, hotel and entertainment industries are once again heavily affected by the Covid-19 health crisis,” the group said. “The Casino Barrière Le Croisette concession ends on October 31, 2022. The city of Cannes has launched a call for tenders for the operation of the casino from November 1, 2022 for a period of 12 years. The SFCMC has submitted an offer and is awaiting the decision of the City of Cannes.”