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Kretinsky-led consortium set to own 53.7% of retailer Casino’s capital

PARIS, Jan 3 (Reuters) – A consortium led by Czech billionaire Daniel Kretinsky will own and control 53.7% of French retailer Casino’s share capital once a restructuring plan is completed, Casino said on Wednesday.

Current shareholders will be massively diluted to around 0.3% of the share capital, it added.

The statement also cited a report by independent expert Sorgem Evaluation that found the restructuring plan was fair to current shareholders.

Casino said that – according to Sorgem’s report – without implementation of the restructuring plan, the group’s enterprise value of 3.71 billion euros ($4.05 billion) (as implicit in the subscription price of the capital increase reserved for the consortium), is well below its net debt of 7.88 billion euros.

Under these conditions, the economic value per 100 shares is zero. After implementation of the plan, the value of these 100 shares would be around 5 euros, which Casino said represented a value “very close to” the subscription price of the capital increase reserved for the consortium.

As part of its restructuring, Casino said on Dec. 18 it had entered into exclusive talks to sell all of its big stores to Les Mousquetaires and Auchan Retail.

Casino, which has warned of likely losses for 2023 for its core French business, is racing to finalise a bailout to avoid bankruptcy early this year. ($1 = 0.9172 euros) (Reporting by GV De Clercq Editing by Chris Reese and Barbara Lewis)

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Answers about Casinos

A casino without poker typically refers to a gambling establishment that doesn’t offer poker games among its offerings. While many casinos feature poker rooms o

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Casinos

What kinds of games are available to play at Online Casino Tropez?

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Online Casino Tropez offers a diverse range of games, including the Best Blackjack and Roulette Games Online. At KhelRaja, we provide a premium gaming experienc

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Board Games

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What does it mean when dice is written over dice?

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A pair of dice, or “paradise”.

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Former Los Angeles council member sentenced to 13 years in prison…

LOS ANGELES (AP) – A former Los Angeles City Council member was sentenced Friday to 13 years in prison for a pay-to-play bribery scandal involving real estate development projects.

José Huizar, 55, was sentenced by U.S. District Judge John F. Walter, who also ordered him to pay $443,905 in restitution to the city and $38,792 to the IRS.

Prosecutors said in a sentencing memorandum that Huizar chose “to place his own lust for money and power above the rights and interests of the people he was elected to serve.”

Huizar pleaded guilty a year ago to racketeering conspiracy and tax evasion.

Prosecutors said that from 2013 to 2017, Huizar masterminded a $1.5 million scheme tied to the approval of downtown high-rise developments while he chaired the city´s powerful Planning and Land Use Management Committee.

Huizar was accused of giving favorable treatment in exchange for cash, casino gambling chips, luxury stays in Las Vegas, online casino roulette expensive meals, prostitution services, flights, concert and sports tickets, political contributions and games casino funds to settle a sexual harassment lawsuit.

Multiple other individuals and companies were charged alongside Huizar or in related cases. Three have been sentenced, and five are awaiting sentencing. One has a pending retrial, and another is a fugitive.

Huizar must surrender to federal authorities by April 30.

His scheme was among a string of scandals that rocked the 15-member council in recent years.

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Water cascades down streets and into shops, pubs and restaurants

Water is cascading down streets and into shops in Brisbane’s CBD after a major leak.

Pictures show thousands of litres of ankle-deep brown water lapping at tables and chairs inside restaurants and live casino online inundating intersections.

A police spokesman said multiple buildings began reporting the major leak after a water main exploded at 4:30pm on Friday.

Water is cascading down streets and into shops in Brisbane ‘s CBD after a major leak

The car park under Brisbane Casino has water running through it and the Oaks Hotel has been flooded

A large pothole and deep fractures in the bitumen have opened along George Street where the busted main is believed to have been located. 

Both George Street and connecting Charlotte Street have been closed and pedestrians have also been urged to avoid the area. 

The roads will remain closed for up to 48 hours as workers attempt to tame the flooding and patch up the damaged roads. 

Not looking good on George Street in the Brisbane CBD. Suspect a burst water pipe. Flooding down Elizabeth Street. pic.twitter.com/i71sDuhtID

— Matthew Toomey (@ToomeyMatt) January 12, 2024

A large pothole and excessive fractures in the bitumen have opened along George Street where the busted main is believed to have been located

Both George Street and connecting Charlotte Street have been closed and will remain so for up to 48 hours as workers attempt to tame the flooding and patch up the tattered roads

The car park under Brisbane Casino had water running through it and the Oaks Hotel was also flooded.

Emergency services used sandbags to mitigate the flooding of surrounding streets and buildings which had slowed the flow of water by 6pm.

Shortly after Urban Utilities were able to shut off the busted main, ceasing the water further.  

Debris including rocks are still strewn across street throughout the CBD.

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What is the best online casino for canada?

Here a some Canadian online casinos which certified by eCorga, and supports Canadian dollars

RedFlush Casino

Casino Lavida

Jackpot City

AllSlots Casino

Platinum Play Casino

Royal Vegas

32Red Casino

all are powered by the leading Microgaming software provider.

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Where can you play Craps online?

Every online casino will offer Craps as it is one of the most popular casino games. You will need to chose an online casino that accepts players from your country.

If you are located in the United States you will be limited to a handful of reputable online casinos. You can find reviews and links to the different online casinos below; all offering craps as well as most of the games you would find in a traditional casino.

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