The financial terms of the deal were not disclosed. However, it was confirmed that all staff at Casino Davos will be retained as part of the agreement.
Previously, Stadtcasino Baden held 46% of the shares in Casino Davos, Ardent held 44%, and the Davos Destination Organisation (DDO) held the remaining 10%.
Ardent acquired its stake in May 2018, in anticipation of launching an online gambling offering in the regulated Swiss market. In September 2019, Casino Davos became the fourth land-based casino operator to launch online gambling in Switzerland with its Casino777.ch brand, powered by Ardent’s Gaming1 online casino solutions provider subsidiary.
Stadtcasino Baden stated that there were different ideas regarding the further development of online activities on casino777.ch, leading to the agreement that it would be advantageous for Casino Davos to have a partner take the lead. Therefore, Stadtcasino Baden sold its stake to Ardent Group. This allows the Stadtcasino Baden Group to focus on the development of its own software solution within Gamanza and other projects.
The sale of the shares in Casino Davos is still pending approval from the Swiss regulator, Eidgenössische Spielbankenkommission (ESBK).
