French MPs back lottery privatisation

Lawmakers voted in favor of privatising the lottery and scratch-cards monopoly in the country.

France.- French lawmakers have been trying to restructure the national gambling regulatory framework for a few months now, and the state lottery was poised to face major changes.  Now, it has been confirmed that MPs voted to privatise the lottery and scratch-cards monopoly Francaise des Jeux (FDJ).

The voting took place on Thursday and one of the conditions to privatise the lottery was for the state to retain a minimum of 20% of shareholding of Francaise des Jeux. Along with this decision, the government also voted to privatise three major airports in the country, in hopes to raise €10 billion that would go towards investment in artificial intelligence and other new technologies.

“We want to change from a dividends approach to one of investing in the future,” Economy Minister Bruno Le Maire told lawmakers this week, France24 reports.

The sale had been already approved by the French Assembly on June, but under certain conditions: the lower house demanded new regulations for the industry in all its levels and a new authority to regulate it. The new authority would end overlapping in regulation, although it would still be tasked with ensuring that the new FDJ’s owners comply with local fundraising, civic and social responsibility duties and standards.