NOVOMATIC AG has announced in a public press release on its official website that it has entered into an agreement to buy French land-based casino operator and brand Vikings Casinos SAS.

Vikings Casinos runs 11 land-based properties in the country and is a prominent local player. The purchase is still subject to regulatory approval and a final say from the anti-competition watchdog.

NOVOMATIC set to move into the French land-based gambling market

The deal, which will allow NOVOMATIC to significantly expand its footprint in the land-based market, and particularly in France, comes at a time when the French government seems increasingly likely to turn to online casino gaming in a bid to raise additional revenue.

A draft law, however, has been opposed by sector representatives from the land-based casino body, including political leaders such as local mayors who have cautioned that local economies may be killed by the legalization of online casinos. France is also looking to raise existing taxes.

Regardless, NOVOMATIC has found due value in its overture to Vikings Casinos, seeking to acquire the French casino chain. NOVOMATIC Executive Board Member Stefan Krenn had this to say when commenting on the deal:

"With the acquisition of Vikings Casinos, we are consistently pursuing our international growth strategy and strengthening our position as a leading provider in the European gaming market. With this step, we have successfully laid the foundation for further sustainable growth in France."

Acquisition to create new opportunities for the land-based casino chain

Vikings Casinos is similarly happy with the deal, and the prospects it brings along with it. According to Vikings Casinos CEO Luc Le Borgne, the acquisition will allow Vikings Casinos to expand its chain and footprint.

"We are confident that the integration into such an experienced and successful company as NOVOMATIC will help us to further strengthen our position on the French market," Le Borgne said, confident that the deal is going to bring better opportunities for the company moving forward.

Image credit: Vikings Casinos