Footfall in Casino supermarkets was up 4% over the past four weeks, the company said. Casino's Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer's stores. Earlier this year, authorities jailed "junket king" Alvin Chau, who once led an industry that enticed wealthy gamblers from China's mainland with perks like VIP rooms and easy credit, for running an illegal multi-billion-dollar gambling ring.

"Casino has reached a major milestone in its financial restructuring process by obtaining the agreement of its main creditors on a financial restructuring plan," CEO and controlling shareholder Jean-Charles Naouri said in a statement. With "Westminster" spires looming above and "Big Ben" tolling in the background, university graduate Li Junkai from China's Hebei province tested legalised betting for the first time -- and promptly lost around HK$100 ($13).

Casino will formally change hands at the end of March next year. The deal massively dilutes shareholders and will bring to an end the 30-year reign of 74-year-old Naouri, who controls Casino through his listed holding company Rallye. On Thursday Casino said the binding debt deal was reached with the consortium led by Kretinsky's company EPGC alongside Casino's biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer's secured creditors.

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Casino reiterated it had until Oct. The retailer, which is now France's sixth-largest supermarket group, said it planned to pursue discussions with the financial creditors not yet party to the lock-up agreement to get them to sign up to it too. Thursday's announcement finalizes a July agreement in principle which called for 1. Should you loved this short article and you wish to receive much more information concerning online casino vs real casino generously visit the site. 2 billion euros ($1.26 billion) of new money to be injected into Casino, as well as a reduction of Casino's debt by 6.1 billion euros.