Supported by the British insurer Prudential, the new buyer, the group Moliflor Loisirs (nine companies now) aims a turnover of one billion francs in eighteen months.
With the buy out of the Siesta at Antibes, it is a new group which enters the world of casinos on the French Riviera. Moliflor Loisirs, buying out the 16th French casino to the Ferrante family (200 MF in turnover for 1999), for an amount which will be about 300 million francs, is on the market of gambling on the French Riviera from now on beside the following groups: Barrière (Cannes Croisette, Menton), Partouche (Juan-les-Pins, Carlton CasinoClub in Cannes, Beaulieu, Grasse) and Accor (Mandelieu, Ruhl in Nice).
Sixth French group in gambling
For the CEO of Moliflor Loisirs, Bertrand Coltier, 42 years old, former of the group Barrière and former manager of operations for Accor-casinos, the aim of the group is first to reach a significant size in its activity sector. There are seven groups in France and we are ranked sixth. Moliflor Loisirs, which had already bought the casino Uriage, near Grenoble in June 1999, represents, with the Siesta, a turnover of 620 million francs (508 million francs of gross product for gambling). We remain far behind the fifth group though (Accor-Casinos). Our aim is to reach one billion francs in turnover within eighteen months with an internal growth and of course, by purchases."
If Moliflor exists since 1948, and first developped in the Pyrénées Orientales (Boulou, Saint-Cyprien, Argelès-sur-mer), it became different in June 1999, with the arrival of a powerful investor: Leisure Holding France, company which is owned by the British insurance group Prudential. Taking simultaneously the control of both Moliflor and Uriage casinos, Leisure Holding France gave birth to the group Moliflor Loisirs, and at the same time, to a new ambitious actor on the market of French casinos.
The Siesta and its 150 amusement machines shouldn't be affected by this change of owner though. The establishment was entirely renovated two years ago. Located nearby the sea, it doesn't have the right to build. However, the new owners who benefit from a famous place on the French Riviera, are decided to run profitably the establishment and to take profit of their presence in the first region of France in terms of gambling volume…