La Fermière in Cannes has recovered

Said as to be in the red, the last result of the SFCMC (Société Fermière du Casino Municipal de Cannes which belong to the Lucien Barrière group) finally revealed as positive. The figures of the fiscal period, which ended on October 31st 2000, have been presented during the week and they reveal a net result of 0.5 million euros (3.6 million francs) for a turnover of 78 million euros (an increase of 23%).

Listed on the stock exchange, the SFCMC, which gather together the Majestic and Gray d'Albion hotels around the Croisette casino lost 0.5 million euros last year. They seemed to head for a bigger deficit in 2000 after a net loss of 7 million euros for the first six months of the fiscal period (as against 3.6 million euros for the same period last year). The recovery occurred thanks to the slot machines (+16% of turnover for games) and especially thanks to the great increase of hostelry (+35%) and catering after a exceptional tourist year.