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France – French government plans IPO for FDJ in 2019

By - 16 April 2018

A bill could be unveiled on May 16 to give the French government the formula to partially privatise Française des Jeux, the operator of France’s national lottery games whilst still keeping control of the entity.

The state’s share, currently 72 per cent, will be reduced in order to introduce float almost half of the capital on the stock market in early 2019 in a move that could raise €1bn. Several different permutations have been presented since the election of Emmanuel Macron to the president, but this formula for privatisation allows the state to retain a blocking minority on the operator, double voting rights whilst allowing the FDJ to retain its monopoly on exclusive wagering, lottery and scratch games.

A new gambling regulator will also be created to oversee the FDJ and online betting. The bill will be presented to the Council of Ministers on May 16.

In 2017, the FDJ generated €15.1bn in bets with €3.3bn were in the state budget.

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