'We believe the consent solicitation process, combined with the group's weak operating performance, fragile liquidity position and unsustainable capital structure make a default, distressed exchange or redemption appear inevitable within six months, absent unanticipated and significantly favorable changes in the issuer's circumstances,' S&P said in its statement. The company has said it was considering asking for a court-appointed conciliator to oversee discussions with bank creditors and bondholders over the two potential deals.

The company, headed and controlled by veteran entrepreneur Jean-Charles Naouri, is striving to find a way out of its financial woes and is considering rival tie-up proposals.Ĭzech billionaire Daniel Kretinsky, Casino's second-biggest shareholder, has offered to take control of Casino through a 1.1 billion euro capital increase, challenging a proposed tie-up between Casino and smaller retailer Teract (TRACT.PA).Ĭasino, which held its annual shareholders meeting on Wednesday, again declined to give an update on the two tie-up offers. With about 3 billion euros ($3.3 billion) of debt maturing in 20, Casino has been selling assets to meet repayment obligations. The games library covers all popular categories like slots, table games, video poker, and casual games. Though the majority of games are from RTG, the casino also features titles from Visionary iGaming. PARIS, May 10 (Reuters) - Shares in French retailer Casino (CASP.PA) fell more than 6% on Wednesday after Standard & Poor's cut its long-term credit and placed all its ratings on credit watch, citing restructuring risk and weak liquidity. Highway Casino is your journey and your destination, which consists of top-quality games from Real Time Gaming (RTG).

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