Casino operators in France are hurting from this year’s smoking ban. Now, the damage to operators’ bottom lines might be making some companies targets for takeover.

Qatari Diar, subsidiary of the Qatar Investment Authority, has acquired 22.7 percent of luxury hotel and casino concern Groupe SFCMC—Société Fermière du Casino Municipal de Cannes.

The group’s two casinos recently reported results down by 20 percent this past year due to the smoking ban, tougher visitor identification procedures and the poor economy.

The move comes two months after Qatari Diar sought to obtain 30 percent of fabled Monaco casino resort operator SBM. That move was thwarted when SBM refused to allow Qatari Diar more than 10 percent.

The Qatar investment entity found a more receptive target in SFCMC further along the Riviera, in Cannes.

SFCMC is controlled by the Desseigne- Barrière family, which holds over 70 percent. Qatari Diar would like to have 40 percent ultimately.

By GGB Staff

Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.