Ardent Group buys 44% of Swiss Casino Davos

Business News

The Belgian Ardent Group (formerly Circus Group) has acquired a 44 percent share holding in Stadtcasino Baden AG’s Swiss subsidiary Casino Davos for an undisclosed consideration.

The deal strategically positions the Ardent Group for potential regulatory change as a new Swiss gaming law is expected to be voted upon in the second week of June.  The law enables Swiss terrestrial casinos to launch online operations on their successful application of a license extension.

“For this reason, Stadtcasino Baden Group has made the strategic decision to operate Casino Davos in the future together with a partner with many years of online casino experience,” a press statement reads. “The choice fell on the Casino de Spa SA, which is part of the Belgian Ardent Group, and already successfully runs its own licensed online casino.”

“If the gambling law is passed on June 10, we will immediately and together with our new partner, develop a competitive online offer for Casino Davos to promote us as early as possible for an online license extension,” Detlef Brose, CEO of Stadtcasino Baden AG, said.

“This extension of the concession would be an important step in securing the long-term future of the penultimate Swiss mountain casino.”

Stadtcasino Baden AG remains the largest shareholder in Casino Davos with a 46 percent stake, while the Davos Tourism Organization retains its 10 percent share.