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Groupe Barrière’s new strategy
One of France’s leading land-based casino and luxury hotel giants, the Barrière group is constantly evolving.
Recently, it has once again become a 100% family-owned business.
Then, on Friday, September 1, 2023, he announced a new governance. This allows the company to unveil its brand new strategy.
Among other things, this will involve greater internationalization, a move upmarket and the online casino sector.
The creation of 6 departments and a general secretariat
Little by little, the Barrière group continues to evolve. At the end of July, for example, Alexandre Barrière and Joy Desseigne-Barrière finally took over from their father (Dominique Desseigne) as Chairman.
Then, a few days later, they bought out Fimalac’s shares to become 100% owners of the family business.
After appointing Grégory Rabuel (formerly of SFR and Altice France) as Chief Executive Officer, the Barrière group has made major changes to its governance (see article below NDLR). It is now structured around 6 departments and a general secretariat.
Officially announced on September 1, this reorganization is an opportunity to implement a new, highly ambitious strategy.
>>> Read also: “Grégory Rabuel appointed CEO of the Barrière Group”.
Groupe Barrière’s main projects
Grégory Rabuel makes no secret of it: he wants to further strengthen the the group’s international development. The Fouquest’s brand, for example, already exists in New York, Abu Dhabi and Dubai. Future openings elsewhere in the world are already envisaged.
Groupe Barrière is also looking to move upmarket on a global scale. All its hotels and restaurants will be aligned to offer a higher quality of welcome and service. Some establishments will therefore have to reposition themselves to offer high-end services.
Finally, the Barrière group is taking a very close interest in the project to legalize online casinos in France, which could happen in the medium term. For the moment, however, there is very little concrete information available about the planned regulations.
Whatever happens, casino operators have long been in the habit of campaigning for legalization that would be limited to land-based casino operators present in France.
In the end, whatever option the government chooses, the Barrière group is keen to establish itself on the French online casino market. As a reminder, it already operates in Switzerland.
The question of financing
Faced with this ambitious new strategy, there remains one major question. How will this plan be financed? For the moment, we don’t yet have a firm and definitive answer.
Nevertheless, Grégory Rabuel has already made it clear that Barrière does not intend to sell a single one of its establishments in order to implement the plan. However, it is well known that the group was already somewhat in debt before the purchase of Fimalac’s shares for 325 million euros.
While the new strategy is to be implemented step by step, the new CEO has promised significant changes in the coming months.
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