KPC has co-invested with Blackstone Tactical Opportunities (“BTO”) to acquire JOA Group (“JOA”), a leading French casino operator, from a group of investors led by Alchemy Partners.
JOA is one of the largest casino operators in France with a national network of 22 medium-sized casinos and an online sports betting platform. In addition to traditional gaming activities, JOA’s amenities include restaurants, sports bars, hotels, cinemas and bowling alleys, positioning JOA sites as leisure facilities for the community.
In 2016, JOA employed over 1,500 people and welcomed four million visitors.
KPC will be working in close partnership with BTO and management to support the business’s continued transformation into a market leading, innovative and differentiated leisure offering and to fulfil its ambition to consolidate the French casino market where there are a large number of independent operators as well as considering pan-European consolidation opportunities.