Update on the Appeals Related to the Legal Framework Adopted Prior to FDJ’s Privatisation
July 26 2021 - 7:38AM
Business Wire
Regulatory News:
La Française des Jeux (FDJ) (Paris:FDJ), France’s leading
betting and gaming operator, has issued an update on the appeals
related to the legal framework adopted prior to FDJ’s
privatisation.
FDJ takes note of the announcement by the European Commission on
the launch of an in-depth investigation of France on the
appropriateness of the sum of €380 million paid by FDJ to the
French State as “remuneration for exclusive rights granted” in
respect of the lottery and of sports betting at points of sale.
FDJ reiterates that as part of its privatisation and under the
French Pacte Law, the French State secured, for a period of 25
years, the exclusive rights that the Group had previously held for
an unlimited period. In exchange for securing these rights, FDJ
paid the French State €380 million, following compliance approval
by the French Holdings and Transfers Commission (Commission des
participations et des transferts).
In its Registration Document dated 17 October 2019, prior to its
initial public offering, FDJ highlighted the risks of appeals
against the legal texts enabling its privatisation, in particular
those arising from the Pacte Law.
In its 2020 Universal Registration Document, FDJ stated that the
French Council of State (Conseil d’Etat) had already ruled in 2020
on a request for a referral to the Constitutional Council (Conseil
constitutionnel) as a Priority Constitutionality Issue, which it
rejected on 19 August 2020, and that a number of appeals were still
pending before the Council of State.
FDJ is available, along with the French State, to answer any
questions from the European and French authorities over the course
of these proceedings to provide any information necessary to
demonstrate the compliance of this legal framework with French and
European law.
About La Française des Jeux (FDJ Group)
France’s national lottery and leading gaming operator, the #2
lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable
and responsible gaming to the general public in the form of lottery
games (draws and instant games) and sports betting (ParionsSport),
available from physical outlets and online. FDJ’s performance is
driven by a portfolio of iconic and recent brands, the #1 local
sales network in France, a growing market, recurring investment and
a strategy of innovation to make its offering and distribution more
attractive with an enhanced gaming experience.
FDJ Group is listed on the Euronext Paris regulated market
(Compartment A – FDJ.PA) and is included in indices such as the SBF
120, Euronext Vigeo 20, STOXX Europe 600, MSCI Europe and FTSE
Euro.
For further information, www.groupefdj.com
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