French government to privatise FDJ
Shares in gaming operator expected to be listed on the French stock exchange
French finance minister Bruno Le Maire has unveiled draft legislation that will see the French government divest its majority stake in the French national lottery, Francaise des Jeux.
The bill, which has been dubbed the “Action Plan for the Growth and Transformation of Companies”, full text here is due to be presented to President Emmanuel Macron.
It calls for the sales of shares in gaming operator Francaise des Jeux (FDJ), as well as airport operator Aeroports de Paris SA and energy company Engie SA.
FDJ is the sole French national lottery operator which currently holds a monopoly on instant win and lottery games, and has also expanded its operations into online betting.
No further details were given about the specifics of the sale, although the French government currently owns a 72% stake in the business.
The Journal du Dimanche recently speculated that the French government would look to offer 50% of those shares on the French stock market. The Journal also believes that the French government will continue to maintain Francaise des Jeux’s monopoly on instant win games, with the intention of divesting its interests by early 2019.
The French government also confirmed it will create a new regulator to fight money laundering, fraud and gambling addiction, although it did not specify whether this regulator would take over from the existing French gambling regulator Arjel, or run in tandem.