Quebec Lottery Acquires French Casino Stakes
22 Dec 2005
MONTREAL, Quebec – As reported by the Canadian Press: "Quebec's state-run lottery corporation announced Wednesday it acquired a minority stake in French casino operator Moliflor with the hope of boosting profits.
"Loto-Quebec said it bought a 35 per cent share of Moliflor for $80 million. Bridgepoint Capital, which took over Moliflor last month, will retain its controlling stake. The lottery corporation said the Quebec government had approved the transaction while French regulators were still reviewing the details.
"Loto-Quebec president Alain Cousineau said the deal was necessary for the corporation to maintain its growth…"