Half-year financial results of the SFCMC as of April 30, 2024

The Board of Directors of the Société Fermière du Casino Municipal de Cannes (SFCMC) approved the half-yearly accounts as of April 30, 2024. The group's turnover amounts to 48.9 million euros, up slightly from compared to 2023 (48.7 million euros).

The accommodation sector posted growth of 1.0% despite a drop in the occupancy rate of 5.4 points. However, average revenue per room increased by 26.7 euros. Cannes hotels experienced a drop in revenue, while that of Saint-Barthélemy recorded an increase of 19.1%.

Food and beverage turnover increased by 5.6%, reaching 11.6 million euros. However, gross gaming revenue decreased by 5.2%. Gross Operating Surplus fell to 1.5 million euros compared to 3.2 million last year.

Net income Group share improves to -3.3 million euros compared to -14.7 million in 2023, partly thanks to lower asset depreciation. The group's net cash position decreased to €8.7 million mainly due to the acquisition of CG Capital.