The Swiss gaming operator Casino Baden has reached an agreement to divest its holding in the Davos Casino to the Belgian investment firm Ardent Group.
Casino Baden is selling its interest in the Davos Casino to Ardent Group.
The financial aspects of the transaction have not been revealed, but it has been confirmed that all personnel at the Davos Casino will be retained as part of the accord.
Casino Baden previously held a 46% interest in the Davos Casino, Ardent held 44%, and the Davos Destination Organisation (DDO) held the remaining 10%.
Ardent acquired its stake in May 2018 with the goal of introducing online gambling products in the regulated Swiss market.
The Davos Casino subsequently became the fourth land-based casino operator in Switzerland to launch online gambling, introducing its Casino777.ch brand in September 2019. Ardent’s online casino solutions provider subsidiary Gaming1 provided assistance for the launch.
“Concerning the future development of online activities, particularly with casino777.ch, the partners have recently had differing viewpoints,” stated Casino Baden. “This ultimately led to an agreement that it would be advantageous for the future development of the Davos Casino if one partner assumed the lead and Casino Baden sold its holding to Ardent Group.”
The divestment of the Casino Davos holding will enable the Stettler Casino Baden Group to concentrate on refining its software solutions within Gamanza and dedicate resources to other ventures.
The transaction remains contingent upon authorization from the Swiss Federal Gaming Commission (ESBK).
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