Ardent buys shares Casino Davos

Ardent Group, a Belgium-based conglomerate that deals with diverse businesses ranging from gaming to real estate, has acquired 44 per cent stake in Stadtcasino Baden AG’s Swiss land-based gaming venue Casino Davos.

Terms of the deal were not published. But it emerges that Stadtcasino Baden will remain as the majority stakeholder in the facility with a 46 per cent share.

The Davos Tourism Organisation will also keep its 10 per cent share-holding of Casino Davos.

Ardent Group, previously known as Circus Group, said the deal put it in a strategically advantageous position ahead of expected regulation changes in Switzerland.

On June 10, Swiss gaming law is due to be voted on, with potential changes to include terrestrial casinos being able to launch an online gambling service.

All online operations will be subject to the successful application for a licence extension.

In a statement, the two companies said: “For this reason, Stadtcasino Baden Group has made the strategic decision to operate Casino Davos in the future together with a partner with many years of online casino experience.”

“The choice fell on the Casino de Spa SA, which is part of the Belgian Ardent Group, and already successfully runs its own licensed online casino.”

Detlef Brose, chief executive of Stadtcasino Baden, added: “If the gambling law is passed on June 10, we will immediately and together with our new partner, develop a competitive online offer for Casino Davos to promote us as early as possible for an online license extension.”

Source: iGamingBusiness