The Loto operator had already paid 380 million euros, shortly after its privatization. A sum intended to secure its exclusive rights to lottery and sports betting at points of sale.
Not enough. After more than three years of investigation, the European Commission estimated that La Française des jeux (FDJ) had to pay an additional 97 million euros to the French state, in order to secure exclusive rights to lottery and sports betting in point of sale. And this for twenty-five years. This sum is added to the 380 million euros that the Loto operator had already paid in 2020, shortly after its privatization.
Adopted in April 2019, the Pacte law opened the way for a vast program of asset sales and authorized the transfer to the private sector of the majority of the capital of the FDJ, the French State remaining a minority shareholder. However, the company was authorized to maintain its monopoly, subject to the payment of a balance.
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«Compliant with European Union law»
Following two complaints deeming this remuneration insufficient, the European Commission examined whether these exclusive rights did not constitute illegal state aid. Of the « limited changes were made to the calculation method, which resulted in an increase of 97 million euros of the total remuneration paid to the French State »indicates the European executive. For him, the exclusive rights granted to the FDJ are now « compliant with European Union state aid rules ».
In April 2023, the French Council of State had already confirmed the company, considering that these rights were « compliant with European Union law » and that their duration of twenty-five years was not « not excessive ». But in the absence of the Brussels verdict, uncertainty weighed on the stock price. Investors remained worried. On Thursday, the FDJ welcomed the closure of this file and « confirmation, in continuity with the decision of the Council of State, of the robustness of the legal framework adopted during the privatization of the company ». The markets welcomed the news, with the stock closing sharply higher on Thursday (+7.29%).
