Groupe Partouche Signs Promise to Sell Cannes Property
Deal News | Mar 31, 2025 | Globenewswire
Groupe Partouche, a leading European company in the casino and hospitality industry, announced it has signed a sale agreement for one of its real estate assets located in Cannes, specifically on Rue François Einesy. The property, which boasts a floor space of over 5,000 square meters, formerly housed the 3.14 Hotel until 2016, and the ground-floor casino, which was relocated to Palm Beach as of December 2024. The company plans to finalize this sale by the end of Spring 2025. Founded in 1973, Groupe Partouche has developed a formidable presence in its sector, operating 41 casinos and employing approximately 4,050 staff. Recognized for its innovations in gaming, the group is listed on Euronext Paris and continues to focus on strengthening its market leadership and profitability.
Sectors
- Real Estate
- Casino and Gaming
- Hospitality
Geography
- France – Groupe Partouche is based in France, and the real estate asset sale involves a property in Cannes, a city in southern France.
Industry
- Real Estate – The article focuses on the sale of a real estate asset by Groupe Partouche, a significant transaction in the property market.
- Casino and Gaming – Groupe Partouche, primarily operating casinos, is restructuring its assets, which directly impacts the casino industry.
- Hospitality – The asset being sold was previously a hotel, linking the transaction to the hospitality industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Groupe Partouche | Seller | Company | A leading European operator in the casino and hospitality sectors, with a focus on innovation and growth. |