Casino Locarno Subject of Takeover Bid
The Swiss casino Locarno has had 81 per cent of its shareholding acquired by Stadtcasino Baden, with ACE Swiss Holding agreeing to sell its shares.
News of this comes as the Stadtcasino Baden Group refocuses its efforts and priorities on the Kursaal Locarno resort that Casino Locarno operates, with 2025 being the goal to accomplish the goals that have been put in place.
A lease agreement has already been agreed upon between the Stadtcasino Baden Group with Kursaal Locarno for what both parties have identified as a potentially profitable location.
ACE Swiss Retaining Minority Interest
Despite what is somewhat of a landmark deal in the Switzerland gambling scene, ACE Swiss will still keep 19 per cent of its holdings in the casino, leading to speculation that it could yet have some say from a strategical operation perspective.
However, this is likely to be very minimal, with critical stakeholders in the company likely to be the main driving force of any involvement from its end, though merely in an advisory capacity.
It means that as far as hands-on profit generation goes and the logistics that are involved in helping the casino to skyrocket, Stadtcasino Baden essentially holds the majority of the aces.
The ACE Swiss Group is particularly well-known in the Swiss gambling industry and has a very slick corporate structure, with several non-executive directors and a number of tranches of shares in several different casinos.
As a result, this latest deal still means that the group has majority control of all the remainder of its holdings and can now focus on cementing them as serious players in the Swiss market.
Stadtcasino Baden to See Its Stock Increase?
Many eyes in the European market will be on the Stadtcasino Baden group to see how this latest deal can propel itself from a performance perspective on the stock market.
What it could potentially result in down the line is similar deals from an acquisition standpoint that helps to significantly add to its value.
Its current stock performance indicates that it has substantial traction, and investor confidence may gain following what is a bold and confident move to acquire the majority of Casino Locarno.
Just recently, the group completed the acquisition of Gamanza Group AG, which helped it to gain further traction in the industry.
While the Swiss authorities are still holding firm to deny the emergence of an online gambling scene in the country, it seems that the land-based casino industry is showing major signs of positivity.
All of the signs so far indicate that the plans in place for Casino Locarno and its new resort can be a success, and, as a result, this should help to take the company to new heights.