Casino Group or Casino Guichard-Perrachon is a French mass-market retail group. It was founded on 2 August 1898 by Geoffroy Guichard under the corporate name Guichard-Perrachon & Co. Casino Group is the source of many innovations such as the first distributor's brand in 1901, the first self-service store in 1948 or even the display of a sell-by date on consumer products in 1959. C15: from Old French, from Italian banchetto, from banco a table, of Germanic origin; see bank 1. The Irishman (2019) cast and crew credits, including actors, actresses, directors, writers and more.

1. Banque Casino Wikipedia France
2. Banque Casino Compte

Jean-Charles Naouri (born March 8, 1949 in Bône (now Annaba), Algeria) is a French businessman. He is Chairman, Chief Executive Officer and controlling shareholder of Groupe Casino.^[1]

Education[edit]

Naouri received his baccalaureat degree at only 15 years old. He then studied in classes préparatoires at the Lycée Louis-le-Grand before entering the École Normale Supérieure in 1967. He also attended Harvard University, before returning in France and completing a PhD in Mathematics in only one year. He is also an alumnus of the Ecole Nationale d’Administration (1974-1976).^[2]

Early career[edit]

Civil servant[edit]

After graduating from ENA in 1976, Jean-Charles Naouri joined the Inspection générale des finances (France), the auditing and supervisory body of the French Administration. From 1982 to 1986, he served as chief of staff for Pierre Bérégovoy, both at the Ministry of Social Affairs and National Solidarity and the Ministry of Economy, Finance and Budget.^[3] During this period, he was the architect of the reforms implemented in the French financial markets, which included the creation of the MATIF futures and MONEP options markets and the introduction of certificates of deposit and commercial paper. In particular, he helped drive the financial market liberalization with measures to ease currency controls and eliminate credit restrictions.

Rothschild & Cie Banque[edit]

In 1987, Jean-Charles Naouri left government service and joined Rothschild & Cie Banque as Managing Partner.^[4] Around the same time, he established his own investment fund, Euris, which acquired minority equity investments in industrial companies, while increasing its investment capabilities.

Global retailing[edit]

Rallye[edit]

In the early 1990s, Jean-Charles Naouri shifted his investment strategy from opportunistic to acquiring strategic stakes. As part of this new strategy, in 1991 he acquired the Brittany-based retailer Rallye, which at the time was facing serious cash flow issues/challenges. Convinced of the future potential for retailing and the benefits of combining the two companies, in 1992 he engineered a merger of Rallye with Groupe Casino, thereby becoming Groupe Casino's largest shareholder.

Groupe Casino[edit]

In 1997, a hostile takeover bid for Groupe Casino by rival retailer Promodès^[5] was thwarted by the successful counter offer ^[6] from Jean-Charles Naouri, the Guichard family and Casino management, thereby maintaining the Group's independence.

In March 2005, Jean-Charles Naouri became Chairman and Chief Executive Officer of Casino Group,^[7] leading a substantial transformation of the retailer's profile by disposing of underperforming business segments in Poland, the United States, Taiwan and the Netherlands and strengthening the Group's presence in fast-growing markets. This made Casino the leading food retailer in South America (especially Brazil and Colombia), the Indian Ocean and Vietnam and the second largest in Thailand.

In France, Jean-Charles Naouri has refocused French operations in the convenience format segment, Groupe Casino's core business, and also positioned Casino in the discount segment by developing the Leader Price chain and the Cdiscount e-commerce website acquired in 2000.

In 2012, Groupe Casino acquired a controlling interest in Brazilian retailer Pão de Açúcar, the country's largest private-sector employer.^[8] The Group also purchased the 50% of French retailer Monoprix, which it did not already own, becoming the sole shareholder.^[9]

Social responsibility commitment[edit]

In addition to his business activities, Jean-Charles Naouri is also the founder of the Euris Foundation, which he created in 2000. Each year, the Foundation grants 40 scholarships to promising high school graduates from impoverished neighbourhoods in France.^[10]

He is also Vice Chairman of the Groupe Casino corporate foundation, which he founded in 2009 to improve access to culture and knowledge for children who are disadvantaged or suffering from illness.In addition, he is Honorary Chairman and Trustee of Ecole Normale Supérieure's Institut d’Expertise et de Prospective,^[11] which is responsible for developing ties between the school and the corporate world.

In June 2013, Jean-Charles Naouri was appointed by France's Ministry of Foreign Affairs to be a special representative for Economic relations with Brazil.^[12]

Positions[edit]

• Chairman and Chief Executive Officer of Groupe Casino, a listed company
• Chairman of the Board of Cnova N.V.
• Chairman and Chief Executive Officer of Euris
• Chairman of Rallye, a listed company
• Chairman of the Board of Directors of Companhia Brasileira de Distribuicao (CBD), a listed company
• Vice-Chairman of the Casino Group Corporate Foundation
• CEO of Casino Finance
• Chairman of the Euris Foundation

Other positions[edit]

• Board Member of Financière Marc de Lacharrière (FIMALAC)
• Member of the Advisory Committee of Banque de France
• Chairman of Association Promotion des Talents, a non-profit organisation
• Honorary Chairman and Director of Institut d’Expertise et de Prospective (Ecole Normale Supérieure)

Net worth[edit]

In 2015, Jean-Charles Naouri was ranked by Forbes Magazine as being worth $1.2 billion dollars. ^[13]

References[edit]

1. ^Jean Charles Naouri - Executive profile, Bloomberg Businessweek]
2. ^Jean-Charles Naouri - Brief biography, Reuters
3. ^Casino indiser : Jean-Charles Naouri, Macroaxis
4. ^Bookish Frenchman becomes Brazil retail kingpin, Chicago Tribune,June 21, 2013
5. ^French Grocery Chain Raises Hostile Bid, the New York Times, September 26, 1997
6. ^Casino Guichard-Perrachon S.A. History, Funding Universe
7. ^Jean-Charles Naouri becomes CEO of Casino, Retail Analysis, March 24, 2005
8. ^Casino to Become Sole Controller of Brazil’s Pao de Acucar, Bloomberg, May 15, 2012
9. ^Dean Best, Casino's Monoprix acquisition cleared, Just Food, July 10, 2013
10. ^L'excellence des lycéens défavorisés récompensée, Le Figaro, October 22, 2010
11. ^Jean-Charles Naouri est nommé président de l'Institut d'expertise et de prospective de l'Ecole normale supérieure, Les Echos, January 22, 2001
12. ^Jean-Charles Naouri appointed special representative for economic relations with Brazil, International supermarket news, August 21, 2013
13. ^https://www.forbes.com/profile/jean-charles-naouri/#120ea9854bd9

Why is Baccarat so popular? Some might point to the obvious like it’s easy to play, or it’s beneficial to players with its low house edge, or James Bond made it look cool. But surely it must take more than just a simplistic gameplay for it to stand the test of time and transition from the 15th century soldier bivouacs to the glamorous casinos of Las Vegas and today’s cutting-edge online platforms with dazzling live dealers. Let’s first have a look at how it all started.

Early Origins – Chinese Games and Ancient Roman Rituals

Despite it being one of the most popular and oldest card games across the world, Baccarat’s origin remains unclear. The first written record of the game is from the 19th century, so all other accounts about it prior are mere hearsay. Still, the possible scenarios of how the game came into existence are quite interesting. According to one, Baccarat may have derived in part from some non-card games such as the Chinese Pai Gow game which was played with tiles instead of cards. This is mainly based on some correlation between the meaning of Pai Gow (make nine) and nine being the best score in Baccarat as well. It cannot be substantiated by historic evidence, however.

Another presumption, again based on the number nine, traces Baccarat’s roots to Ancient Rome and a ritual in which vestal virgins would cast a dice to determine their faith. Rolling 8 or 9 signified the future of a high priestess, 6 or 7 meant that her vestal virgin would have to be revoked, while any other number would cost her her life as she had to walk into the sea and drown. Even if the number nine was somehow acquired in baccarat through some of these games and rituals, it still doesn’t answer why baccarat is played with cards and not dice today. So, let’s fast forward to the late 13th century when Marco Polo returned to Italy from his expeditions.

Humble Beginnings in Italy

The “play of cards at tables” was first described in a French manuscript dated to the 1330s. Before the invention of the printing press, card games were hardly a popular activity mainly due to the scarcity of playing cards. They had to be either hand-painted or block printed by using a carved wooden block as a stamp – a Chinese technique used for Pai Gow tiles which Marco Polo introduced to Italy in the late 1290s. With the invention of the printing press, playing cards became more widely spread as they were printed in packs of 78. Known as The Devil’s Picture Books, playing cards were now more abundant. New card games proliferated and older games were adapted to be played with cards, Baccarat being one of them.

Although Baccarat is often considered to have originated in France, historic evidence points to Italy as the birthplace of the game. Tarrochi was a card game played in Italy in the 1300s and although there’s no proven correlation between it and Baccarat, Tarrochi could in fact be the predecessor of all card games. Felix Falguiere was an Italian man who is considered to have invented the modern form of Baccarat using Tarot cards. Another game popular in Italy at the time – Macao, which was played to the total of nine – is often referred to as Italian Baccarat and could be the game from which modern-day Baccarat was derived. Le Her is another game that could be the origin of the oldest form of Baccarat, as they’re both fixed-number games aiming for the highest score. Le Her was a card game played by two players – each dealt only one card. The cards had values 1 to 13, Kings being the highest rank and the instant winner. Each player could exchange their card if it was anything else than a King which is similar to the additional card drawing in Baccarat.
In the 19th century, another game was pointed out as a predecessor of Baccarat when Hoyle’s Official Rules of Card linked it to the Vingt-et-un games, which is French for 21 and yes, thus ultimately bringing the behemoth Blackjack forward in the family tree. The game described in this book is actually Baccarat en Banque. In the 1911’s edition of the Hoyle books, The Official Rules of Card Games Up to Date, there is a clear distinction between Baccarat en Banque and Chemin de Fer and they’re listed as separate games.

Banque Casino Wikipedia France

Baccarat in France – A Noble albeit Illegal Pastime

Baccarat is widely regarded as a French game so let’s have a look at how the Baccarat situation in La République unfolded. As the stories go, Baccarat was introduced in France by soldiers returning from the Italian conflicts during the 1490s. Supposedly, the game quickly became popular with the French nobility. Two versions of Baccarat – Baccarat en Banque (Baccarat Deux Tableux) and the non-banking Chemin de Fer were played during the Napoleonic era. Such was the interest they garnered that even after Louis Phillip made casinos illegal in 1837, they continued to be played in houses running underground gambling operations outside the law, while retaining popularity in Europe.

Considering the phrase Chemin de Fer means “iron way” or “railway” we could make an educated guess that this version became popular after 1832 when the first railroad in France was opened. However, there are no period documents that actually prove it – the name could have been added later on, for all we know – so we just have to assume that Baccarat en Banque is the older version. The first mention of Baccarat was in 1847 when Charles Van-Tenac included a 13-page mathematical analysis of the game – the first printed one ever – in his Album des jeux.

Across the Atlantic and Over the Pacific – Baccarat Arrives in America

If you research the origin of Baccarat in the United States, you will find articles and documents that point to 1911 as the year of the first Baccarat game played in an American gambling establishment. This statement is backed by John Scarne, Steve Forte, and other respected authors and card games experts who have come to grips with subject of Baccarat. However, these statements and assumptions are easily rebuffed by some period newspaper publications. The first printed record of Baccarat being played in the United States was in 1871. An article in the New York Times described the Club-house at Long Branch where visitors were flocking around the “faro spread, the roulette table and the Baccarat board.” Another article again in the New York Times, this time from 1899 chronicled the arrest of 30 Frenchmen playing Baccarat, which means that the game was being played in the United States decades earlier than originally thought. Despite these mentions, Baccarat is generally considered to have made its American debut in the early 1900s. John Scarne describes Chemin de Fer being played in 1911 in New York, adding that it was nowhere near as popular as the other banking games Blackjack and Craps that were played by American servicemen during WWI.

First Reports of Baccarat in the USA

Although the early references in the New York Times describe Baccarat en Banque and not Chemin de Fer, it’s still an interesting fact that Baccarat was played in the United States decades earlier than originally considered. Still, Baccarat was completely absent from the Assembly Bill which legalized gambling in 1931. When the Sands opened a table in 1958, the version that was played was Chemin de Fer (often referred to as Chemmy). It was a non-banking game where the casino collected a rake on the winning bets which is probably what Mark Twain was referring to when he said he would have stayed at the table if he could borrow the croupier’s oar. Baccarat wasn’t a major casino game until 1959 when Tommy Renzoni brought a new version called Punto Banco to Las Vegas. Originally developed at the Mar del Plata casino in Argentina in the early 1950s, this version is the game Baccarat played today at most casinos in the USA, the UK, and Australia.

Baccarat in Nevada – First Games at the Vegas Strip

On November 20th 1959, the Las Vegas Sands made casino history as it opened its first Punto Banco table. The evening took off steeped in promotional glitz and glam but came to a rough end, with the casino losing a quarter of a million dollars. Fortunately, the owners weren’t put off by the shaky start and decided to keep the game long enough to make a sustainable profit. In the decades to follow, Baccarat retained an air of exclusivity as in the 1970s, there were only 15 tables at the entire Vegas strip, most of which were open part-time, so the only way to get a seat was to be rich or famous, preferably both.

Popularity of the Game Today

The early Baccarat games played at the Vegas strip in the 1960s were not exactly the Punto Banco variation Renzoni had brought from South America. The initial version of Baccarat offered a side bet on natural hands and no Tie bets. Instead of chips, casinos accepted cash wagers and for the sake of convenience, the dealers would apply a soap-like substance on the bills that made them lay flat on the table. The wax bills, however, weren’t accepted in some banks and shops, so by the early 1970s most Baccarat tables were operating with chips. But that wasn’t the only difference from today’s gameplay and overall ambience.

Part of the allure of the game was due to the glamorous shills – lovely young ladies who actually played on the table with minimum wagers, drawing the cards from the shoe and the interest of gamblers, as well. Nowadays, you won’t see such casino employees except at some poker casinos. Baccarat has changed a lot through the years and its popularity in Asia has rendered it more vibrant and dynamic, albeit heavily reliant on superstition, spawning different variations with fast-paced gameplay, additional features, and side bets to take the excitement up a notch.

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