German gaming giant Merkur AG, through its subsidiary Merkur Spielbanken Beteiligungs GmbH, has entered into an agreement to acquire a controlling interest in Société Française de Casinos (SFC). On 27 August 2026, Merkur signed a put option agreement with GPG Groupe Philippe Ginestet and DOFA to purchase 95% of Casigrangi, the parent company of the Le Stelsia casino group, which holds an 81.2% voting stake in Euronext-listed SFC.
Under the transaction terms, Merkur agreed to pay an effective price of €6.19 per SFC share, representing a significant premium over recent market valuations. Casigrangi operates seven regional French casinos in locations including Megève, Granville, and Mimizan, alongside hospitality venues. SFC directly manages four additional casinos in Châtel-Guyon, Collioure, Gruissan, and Port-la-Nouvelle. SFC projects its 2025/26 gross gaming revenue at approximately €22.5 million, with net gaming revenue reaching €13.3 million.
Because the transaction delivers indirect control over SFC, French takeover regulations require Merkur to launch a mandatory simplified tender offer for all remaining publicly traded SFC shares at €6.19 per share. Following the offer, Merkur plans to execute a squeeze-out of minority shareholders and delist SFC from Euronext Paris. Transaction closing is targeted for Q1 2027, pending mandatory employee consultations and clearances from the French Autorité des Marchés Financiers (AMF) and the Ministry of the Interior under Article L. 323-3 of the French homeland security code.
The acquisition continues the wave of retail gaming consolidation across France, following Banijay Entertainment’s recent acquisition of the JOA casino network. For B2B operators evaluating international expansion, acquiring an established casino license, or deploying advanced turnkey casino software, Merkur’s French entry underscores the growing value of omnichannel retail-to-digital gaming assets across regulated European jurisdictions.
Primary source: iGaming Business