renewal of operating contract for the Joa group
It’s official. As of Friday July 07, the Joa Group can continue to operate the casino in Saint-Aubin-sur-Mer, Normandy. Indeed, the mayor of the small commune of 2,100 inhabitants, Alexandre Berty, presented a renewal of the public service concession. But a condition has been added to the contract: the French casino group must pay €65,000 a year to the municipality for cultural events.
The Joa group can operate the Saint-Aubin-sur-Mer casino for a further eight years.
Located in the Calvados department in the Normandy region, the Joa group will operate the Saint-Aubin-sur-Mer casino for a further eight years. At the last town council meeting, held on Friday July 07, the mayor of the commune presented a proposal for the casino’s continued operation. new eight-year public service concessions. As a result, Joa remains the delegatee, especially as no other candidate has submitted an offer to take over the concession.
At the meeting, the municipality was assisted in the negotiations by a consulting firm called KPMG. ” The negotiations were not easy, but in the end we signed a new concession for eight years. We agreed on a lower annual indexed rent than the previous one. (- €120,000),” explains Alexandre Berty, adding that the gaming royalties remain unchanged at 7%.
By way of comparison, the former public service delegation had been agreed for a period of twelve years, bringing in an annual rent of €131,000. It included an investment program of €750,000, but no cultural program. The new contract now includes an annual allocation of €65,000 to the municipality, which will be used to stage one or more high-quality artistic and cultural events.
Among the events concerned: a fireworks display worthy of the name on July 14, the annual film photography festival, and much more. Although the casino will pay out the allowance in April of each year, the amount of the contribution will actually depend on the declarations made by the town hall in order to qualify for it. In addition, the Saint-Aubin-sur-Mer casino is expected to recover 80% of the €65,000 allocated each year.
What kind of investment is needed to improve the casino run by Joa?
The new investment program for the Saint-Aubin-sur-Mer casino is based on a budget of €400,000excluding recoverable taxes. The work to be launched in the coming months will focus on insulating the building’s roof, heating and air-conditioning, creating large openings (bay windows, panoramic windows, etc.), fitting out an auditorium to replace the existing cinema, and, last but not least, completely refurbishing the casino’s facade.
