A stock market listing of the stake remains a "strong option" and could take place in September, he said. "I think that we will find solutions during the year 2010," Desseigne said on the sidelines of a news conference.
Groupe Lucien Barriere is 51 % owned by the Desseigne-Barriere family, which also owns 70 % of SFCMC (La Societe Fermiere du Casino Municipal de Cannes). French hotel group Accor has said it plans to shed its 49 % stake in Lucien Barriere to raise cash and cut debt, possibly through an initial public offering.
Other options include selling the stake to a group of investors. In February, Accor said the stake was valued at between 500 million and 700 million euros (us$ 857.5 million). "We are looking at various solutions. Nothing is yet final but talks are progressing," said Desseigne. Asked if one option stood out, he said: "No. But it is clear that the bourse listing is one of the strong options. Of course, it depends on market conditions."
Groupe Lucien Barriere and SFCMC are regrouped under the Lucien Barriere Hotels and Casinos brand, which has 40 casinos in France and Europe, with a quarter of approved slot machines and half of all gaming tables in the French market, and 16 luxury hotels, according to its website. It is the top casino operator in France with nearly 2 million customers.
Desseigne was speaking after a joint news conference with state-run group Francaise des Jeux (FDJ) to unveil a venture to operate an online poker room under the BarrierePoker.fr brand.
The venture aims to be among the top five online poker operators in France and to break even in three to four years. Profitability and growth prospects will depend on the ability of French authorities to crack down on illegal gambling sites, estimated to number between 20,000 and 25,000.
Francaise des Jeux and Lucien Barriere have both invested some 8 million euros to take 43.84 % each in the venture, while France's On Line Gaming 3D company will own 12.3 %. The venture expects to get the green light from French authorities this month and launch in September.
Francaise des Jeux has offered online lottery and betting games since 2001 and says it has nearly a million users. French parliament passed a bill in April to make certain kinds of online gambling legal, breaking the stranglehold of Francaise des Jeux and horse racing outfit PMU.