France to privatise state lottery

State-owned lottery Francaise des Jeux is set to be privatised as the national gambling regulatory framework gets restructured.

France.- A new piece of legislation was introduced last week to restructure the national gambling regulatory framework, and the state lottery is set to face some major changes. Under French Finance Minister Bruno Le Maire’s plan (the “Action Plan for Growth and Transformation of Companies”), state-owned lottery monopoly Francaise des Jeux (FDJ) is set to be privatised in a deal that could be worth €3 billion.

The sale of the 72 per cent share in FDJ owned by the state has been approved by the French Assembly under certain conditions. The lower house will require new regulations for the industry in all its levels and a new authority to regulate it. The latter requirement is due to concerns over organisations suffering from “double guardianship” as, currently, there are three regulatory bodies in France.

With a new authority, overlapping in regulation would end although it would still be tasked with ensuring that new FDJ’s owners comply with French fundraising, civic and social responsibility duties and standards.

Macron has already announced the sale of airports, railway stations and postal services, so the privatisation of the FDJ is no surprise and it’s just a matter of time before it is completed.