France Set To Privatise La Francaise Des Jeux
By Staff
In France, the Government is planning to introduce legislation that would set out the mechanisms to privatise national lottery company La Francaise Des Jeux via a share flotation sometime next year.

According to the newspaper Les Echos, Christophe Blanchard-Dignac, head of La Francaise Des Jeux, stated that the company was preparing for a decision by the State on how to reduce its 72 percent stake and had hired Merrill Lynch as financial advisers.

La Francaise Des Jeux runs many games in France such as the standard Loto lottery, Millionaire, Keno, scratch card games and the Euromillions European lottery, which had a record pay-out of $160 million last week. The firm, which was started in 1933 to benefit war victims and those hurt by agricultural disasters, had 2007 sales of $13.26 billion with 28.5 million players and a network of 38,700 outlets all over the country.

Blanchard-Dignac stated that while online sportsbetting would be liberalised in the second half of 2009, some 96 percent of the company's activities would remain within its monopoly.

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