FDJ becomes Olympics partner
The French company Française des Jeux (FDJ) has announced that it is now an official partner of the Paris 2024 Olympics.
France.- Française des Jeux (FDJ) has announced that it will become an official partner of the Paris 2024 Olympic and Paralympic Games. The company will operate a licensed lottery programme from 2020 to 2024 with games that will expand as the Olympics take place.
FDJ was the first company to support Paris’ bid to host the 2024 Olympics, and that’s why it decided to launch a new game. Paris 2024 President Tony Estanguet said that they picked FDJ to celebrate what they consider it will be the ultimate sporting event in France, according to Inside the Games.
“We have not forgotten that FDJ was the first partner to show a strong interest in our Olympic bid. That is why we have been working together to drive our project forward: creating an instant game to support the bid, carrying out joint initiatives to promote gender equality in sport, and more. I am delighted that our journey together is continuing,” he said.
Stéphane Pallez, FDJ chairwoman and CEO, said: “Collaborating with the biggest sports event in the world is a real opportunity for FDJ and our 25 million customers, as well as our retailer network and employees. Our past contributions to the world of sport all led to this current commitment to get everyone involved in Paris 2024 and thus contribute to this great sporting and societal project.”
FDJ to implement a comprehensive insurance policy
The French gaming company FDJ has announced the implementation of a comprehensive insurance policy to cover its counterpart risk.
FDJ will implement a comprehensive insurance policy to cover its counterparty risk1 starting January 1, 2020. This reform is part of a process to clarify the relations between the state and the company, following the privatisation of FDJ.
One of the changes involved in the tax and regulatory reform carried out as part of the privatisation of FDJ was the discontinuation of the “counterparty fund” system, a form of insurance that the state offered the company by letting it keep a portion of its gaming levies to set aside as a guarantee fund, which could be used in the extremely unlikely event of a high payout.
The privatisation of FDJ meant that the company is now responsible for covering counterparty risk through an insurance policy, at its own expense. As such, FDJ has taken out a comprehensive insurance policy with a number of top-tier French and international insurers and reinsurers to cover its counterparty risk, which will take effect starting January 1, 2020.
