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Future of French Casinos in the Balance

``Following the purchase in recent years of increasingly more casinos by large conglomerates, the battle between the biggest casino operators has now commenced.

``Experts forecast that further concentration will take place on this lucrative market in the years to come.

``...In 2001 alone, French casinos took euro 2.3 billion ($2.1 billion) off their visitors.

``...With a 40 percent share of the overall market, France is the most important national casino market in Europe. Most of the casinos are in beach resorts and major tourism centers, in order to attract foreign customers as well.

``...In recent years, much has changed in the casino business. Classic games such as roulette can still be played, but the importance of gaming machines has grown significantly.

``The 14,403 "one-armed bandits," which require a permit from the Ministry of the Interior to be set up, now account for more than 90 percent of the total sales generated in French casinos.

``Casinos are also hoping for an additional boost to their sales growth with games of chance on the Internet, although such hopes expressed in past years have so far been disappointed.

``The public has also changed over time. The golden era of the casino in Monte Carlo, when wealthy gamblers set up quarters for several months in the adjoining Hotel de Paris, is long gone. Famous casinos like that in Monte Carlo now entice high net-worth customers in the United States who bring their families over for a few days in their private jets to give themselves a break from the casinos in Las Vegas and Atlantic City. But the large number of gaming machines now also attracts a public which would previously have been barred from entering a smart casino.

``...The process of concentration on the French market is helped by the entry of big groups into a market previously dominated by family businesses. Many of these families have accepted the offers of big groups and sold their casinos for sometimes quite respectable amounts..."

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