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They took the dispute to international arbitration, claiming Laos had violated investment treaties protecting their businesses.
The two sides reached a settlement in 2014, but that agreement also fell apart, and the casino companies renewed their claims.
Ultimately, the gamble backfired.
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As Merkur’s acquisition of Casigrangi would grant indirect control over SFC, French regulations require Merkur to launch a simplified mandatory tender offer for the remaining SFC shares it does not already hold.
This tender offer will be at the same price of €6.19 per share.
If successful, Merkur intends to pursue a squeeze-out process, compelling minority shareholders to sell their shares, and subsequently delist SFC from Euronext Paris.
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“They are people losing their jobs and communities losing long-established high-street businesses,” David wrote.
In his interview Done framed these closures as part of a broader decline in high street retail venues. He predicted that by 2030, betting shops could disappear entirely.
“I believe that by 2030 we will have no betting shops. The high street will be dead. We’ve already worked it out that with the increases in taxes and salaries and other wages it won’t be worth operating,” he said.