October 17, 2008

Française des Jeux to float next year

State monopoly La Française des Jeux (FDJ) is set to float on the French stock exchange next year. The French government has asked Rothschild to advise on a listing, but has not decided on how much of the company’s capital will be made public.

The French state holds 72% of FDJ, war veterans and other charities own 9.2% of the company, investors own 3% of FDJ, with staff holding 5% of the firm’s capital.

FDJ is preparing for the competitive online betting market place that should be implemented by the end of next year in France. It has already redesigned its lottery product and added extra weekly draws and a higher jackpot for a higher stake of €2 per player. The firm plans to increase its lottery profits by 20% and add 4,000 points of sale by the end of 2010.

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