France considering opening new casinos after lawmakers approve
France currently has 196 casinos on the mainland and seven in its overseas territories. The National Assembly's passage of the "Equestrian Town" casino law could at least triple the mainland field.
The approval, approved by the National Assembly on December 5, is intended to help cities built around the horse racing industry. This allows them to promote their industry and generate direct income through gambling. The bill outlines standards for cities to open casinos.
This allows two more casinos to be approved, one in the Ardennes region and another in Meurthe-Moselle. One of the recognized beneficiaries of this legislation is Arnac-Pompadour, based in Corrèze and home to the Haras National de Pompadour stud farm.
Mayor Alain Tisseuil told media outlet France 3 that the construction of the casino would provide significant employment opportunities for the city, providing 30 to 40 jobs.
Create a casino ecosystem
Tisseuil expects the direct share of the city's casino revenue to be between 10% and 15% of total revenue, which would make a significant contribution to the city's overall revenue. The mayor further announced that he plans to launch a tender on Thursday and expects the casino to be completed within two years.
Saumur, located in the Maine-et-Loire region, is another town that meets these requirements. The city is home to the Black Cadre National Riding School and the French Equestrian School.
Saumur Mayor Jackie Goulet also supports the measure. He told the outlet France Ouest that it could become the center of the city.
Both mayors believe the introduction of the casino will generate significant but distinct annual tax revenues. Tisseuil is expected to make €400,000 ($431,520) per year, while Goulet is expected to make €1.2 million ($1.29 million) per year.
Catherine Deroche, a federal member of Parliament from Maine-et-Loire, advocated for the Senate to pass the bill. The House of Representatives approved the bill last May.
French casinos are doing well
The National Gambling Authority (ANJ, by its French abbreviation) recently updated the health of the country’s land-based casinos. French casinos generated sales of 2.48 billion euros ($2.67 billion) last year. That’s an annual growth rate of 138% compared to pre-COVID-19.
Famous (and more accessible) cities like Paris and Cannes have famous casinos that attract locals and international tourists alike. However, the industry faces challenges from online gambling alternatives and occasional debates over regulatory changes.
There is no legal online gaming sector in France, although this may change next year. Nonetheless, the appeal of traditional casino gambling, combined with rich cultural and architectural experiences, has allowed the land-based gambling market to flourish.
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Source: www.casino.org
