The deal massively dilutes shareholders and will bring to an end the 30-year reign of 74-year-old Naouri, who controls Casino through his listed holding company Rallye. Casino will formally change hands at the end of March next year. (Reporting by Farah Master and Dorothy Kam; Editing by Clarence Fernandez) The store closures followed the anti-government protests that year and a subsequent crackdown, which hit retail sales that were next battered by nearly three years of stringent COVID rules.
The Culinary Workers and Bartenders unions are demanding higher wages, stronger protections against new technology that may threaten jobs, a reduction in steep housekeeping quotas and improved safety for workers. Footfall in Casino supermarkets was up 4% over the past four weeks, the company said. Casino’s Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer’s stores. O’Sheas Casino was created in 1989.
Oct 6 (Reuters) – The unions representing 53,000 hospitality workers in Las Vegas said on Friday they have seen “no real movement” this week in contract negotiations with casino-resort operators MGM Resorts International and Caesars Entertainment. In the world’s biggest gambling hub of Macau, about 900,000 visitors swarmed narrow cobblestoned streets, many to punt in dozens of glitzy casinos, while others took selfie photographs at historic spots such as Senado Square. Mass gaming revenues have bounced back to pre-COVID levels, however, analysts said, citing a recovery of more than 100%, although earnings in the coveted “big-whale” VIP category was an estimated 15% of before.
Casino reiterated it had until Oct. 25 to obtain from a commercial court the start of an accelerated safeguard procedure under which it could approve the plan with the support of secured creditors and compel reluctant creditors to follow. Thursday’s announcement finalizes a July agreement in principle which called for 1.2 billion euros ($1.26 billion) of new money to be injected into Casino, as well as a reduction of Casino’s debt by 6.1 billion euros.
On Thursday Casino said the binding debt deal was reached with the consortium led by Kretinsky’s company EPGC alongside Casino’s biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer’s secured creditors. During the eight-day national holiday, which runs until Friday, the number of daily visitors has surged more than five times from last year, taking hotel occupancy rates beyond 90%, executives said, speaking on condition of anonymity.
HONG KONG, Oct 6 (Reuters) – Hundreds of thousands of visitors have flocked to the Chinese-controlled regions of Macau and Hong Kong since Sept. 29, data shows as China wraps up its Golden Week holiday, although the figures amounted to just about 85% of pre-pandemic levels. “Casino has reached a major milestone in its financial restructuring process by obtaining the agreement of its main creditors on a financial restructuring plan,” CEO and controlling shareholder Jean-Charles Naouri said in a statement.
If you cherished this short article and you would like to receive much more information regarding b2y เครดิต ฟรี 50 kindly stop by our web-page. The retailer, which is now France’s sixth-largest supermarket group, said it planned to pursue discussions with the financial creditors not yet party to the lock-up agreement to get them to sign up to it too.
