Good Year For French Land Casinos
Published: Friday, January 05, 2007 Online-Casinos.com
GOOD YEAR FOR FRENCH LAND CASINOS
No wonder the French want to keep revenues like these to themselves
EuroNews carried a report this week that illustrates just some of the substantial revenues generated by the French gambling industry, much of which is monopolised by the state. The report shows that France's 193 land casino operations enjoyed one of their best years, with profits from the 2005 - 2006 season on casino gambling alone of Euro 2.7 billion.
The numbers are a 2.16 percent improvement over the previous year, one that produced the lowest growth since 1991.
However, Euro News reports that the latest profit is tame compared with the period between 1991 and 2001 when profits rose each year by at least 10 percent.
Management vs worker conflict looms for the industry as France's 17 000 casino workers demand that more of the profits should be coming their way. Wage negotiations broke down late last year, resulting in a strike on New Year's Eve - one of the casinos' busiest nights. The unions want a 5 percent pay rise, which is some distance from the casino operators' 2 percent offer.
The unions are also concerned about proposed changes in French law that will authorise electronic versions of games such as blackjack and which they fear could mean job losses.
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