Laurent Lassiaz, CEO of Groupe Joa, isn’t losing sleep over the future of land-based casinos in France, even with the ongoing chatter about legalizing iGaming. Despite the fact that France’s offshore market reportedly rakes in €1.5 billion annually, Lassiaz believes bricks-and-mortar casinos offer distinct advantages that online platforms can’t replicate. He’s not alone in this view—especially with no legal framework in place for iCasino.
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France’s Gambling market: Offline vs. Online
France’s gambling industry is at a crossroads. While the land-based sector features over 200 casinos, offering everything from classic table games to Vegas-style slots, the iCasino world remains unregulated. And yet, France is believed to have Europe’s largest offshore market. Studies suggest this black market could be worth €1.5 billion annually, money that bypasses both the French economy and government tax revenues. “The French casino market caters mostly to locals,” Lassiaz notes, adding that casinos here are seen as community hubs rather than tourist traps. This unique positioning makes them resilient in tough economic times. Meanwhile, iGaming remains under the radar—though the potential for legalization looms as an untapped revenue stream.
Lassiaz’s Journey from Fast Food to High Stakes
Before leading one of France’s largest casino groups, Lassiaz honed his skills in the world of fast food. And his role at KFC and Pizza Hut taught him the art of promise delivery. “If you tell someone you’ll deliver their pizza in 30 minutes, that’s a promise you must keep,” Lassiaz says. This mindset transitioned seamlessly into his casino career. His move to Club Med only broadened his perspective. Delivering consistent customer experiences across different countries prepared him well for the gaming industry, where experience and service quality can differentiate one casino from another. Today, Groupe Joa operates 33 casinos, second only to Barrière in the French market.
Adaptation and Innovation in French Casinos
Despite competition from flashy destinations like Monaco—which attracts high rollers—French casinos maintain focus on local patronage. Lassiaz highlights that not all players come to make a fortune. Older patrons often prefer slots, while younger ones favor table games where they feel more in control. Slot machines, introduced in the 1980s, still dominate earnings—contributing to approximately 80% of the market’s €2.8 billion GGR. Yet, Groupe Joa aims to diversify. At their Montrond-les-Bains property, the company dedicates half its space to non-gaming activities. “We use non-gaming activities as a traffic builder to recruit and attract a younger audience,” Lassiaz explains.
Regulatory Challenges and Opportunities
While iGaming legalization in France is stalled, Lassiaz envisions a future where online and offline can coexist. “I don’t see online casino as a potential danger,” he admits. Instead, he sees it as a complementary revenue stream if integrated wisely. French regulations currently favor local economic support, with casino taxes funding up to 50% of local city budgets. This intertwined relationship adds a layer of complexity when considering iGaming regulations. But however, the fear of disrupting this stable structure makes regulators hesitate. “The regulator is super afraid of breaking a well-balanced business which is very connected to its environment,” Lassiaz says.
Future Prospects for Groupe Joa
But where does Groupe Joa go from here in a mature market? Lassiaz indicates a two-pronged approach: organic growth and acquisition. They’re exploring new F&B concepts and entertainment options to enhance customer experience. “We keep testing new escape rooms, things like that,” says Lassiaz. Acquisitions are also on the table. There are still independent operators ripe for acquisition. Additionally, the company considers expanding into regions lacking local casino offerings, seeing this as a growth opportunity. International expansion is on the horizon too. Lassiaz mentions dedicating major time to identifying potential acquisition targets in Europe that align with Groupe Joa’s operational philosophy. The next chapter for Groupe Joa might not be solely within France’s borders. The board is expected to discuss further strategic steps in the coming quarters, potentially setting up a transformative year ahead.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
