Grand Resort Bad Ragaz AG is now the sole shareholder of Casino Bad Ragaz AG

The two shareholders Grand Resort Bad Ragaz AG and ACE SWISS Holding AG have agreed to sell ACE SWISS Holding AG's stake as a minority shareholder in Casino Bad Ragaz AG to Grand Resort Bad Ragaz AG. Upon completion of the transaction, Casino Bad Ragaz AG, which has been operating the casino business in Bad Ragaz for 20 years, will become a 100% subsidiary of Grand Resort Bad Ragaz AG. The transaction has been approved by the Swiss Federal Gaming Board (SFGB) and was finalized as of
August 29.

Grand Resort Bad Ragaz AG and ACE SWISS Holding AG have agreed to acquire all Casino Bad Ragaz shares amounting to 18.03% of the share capital of Casino Bad Ragaz. Following this transaction, Grand Resort Bad Ragaz AG holds 100% of the shares in the company and is therefore the sole owner. In a first step, 15.3% of the shares were acquired from ACE SWISS Holding AG at the beginning of May 2023. The parties have agreed not to disclose the purchase price of the shares.

Strategic realignment
With the sale of its stake, the ACE SWISS Group has completed its strategic realignment and will in future focus on the Mendrisio site in the terrestrial segment and, if a license is granted, on the new site in St. Gallen. For Grand Resort Bad Ragaz AG as the current sole shareholder of Casino Bad Ragaz, there is additional room for maneuver for the next 20 years with regard to the new license applied for. The Federal Council's decision on the award of the casino concessions is expected in the fourth quarter of 2023.

Longstanding constructive partnership
As part of its new strategic orientation, ACE SWISS Holding AG has offered to sell all its shares in Casino Bad Ragaz AG to the majority shareholder. Klaus Tschütscher, Chairman of the Board of Directors of Grand Resort Bad Ragaz AG, announced that the timing of this transaction is very good for both parties, as it will simplify the shareholding structure in the casino business and Casino Bad Ragaz will make an important contribution to the Group's new destination strategy. Both shareholders also emphasize the constructive partnership since the founding of Casino Bad Ragaz and the granting of the concession in 2002.

Media contact
Grand Resort Bad Ragaz AG
Astrid Hüni, Director of PR & Communications
7310 Bad Ragaz
Phone: +41 (0)81 303 27 34
E-mail: astrid.hueni@resortragaz.ch
Further information: www.resortragaz.ch/presse/

ACE SWISS Holding AG
Aargauerstrasse 180
8048 Zurich
Phone: +41 (0)44 434 22 44
E-mail: media@aceswiss.ch