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France to privatise national lottery operator

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The French government will start groundwork for the divestment of its national lottery operator Francaise des Jeux as soon. The national airport operator Aeroports de Paris SA (ADP) and energy provider Engie SA will also be divested. The government now has 72 per cent stake in the lottery operator.

The sale of the three companies is expected to generate €15 billion for the state. The money is planned to be used for setting up and bulking a government fund for innovation and investment in various industrial projects. The establishment of the innovation fund was part of French President Emanuel Macron’s election pledges. The country’s top official was elected last spring over National Rally (formerly National Front) leader Marine Le Pen.

The privatisation of Francaise des Jeux and the other two companies cannot begin before the government passes a special bill on the matter.

The piece of legislation would clear the way for the sale of ADP and Engie by annulling a requirement under which the state should hold more than a 50 per cent stake in ADP and one-third of Engie’s total voting rights. Here it is important to note that the companies are both listed in Paris.

As for the lottery operator, it is not listed, but its privatisation will require the creation of a new regulatory body that will oversee the divestment as well as lottery operations conducted in France after the privatisation.

The legislative piece was introduced to the government on Monday, as confirmed by officials late last night. However, it will not be before the end of the summer holidays that it will be reviewed and voted on.

Record Sales amid Privatisation Preparations

Francaise des Jeux has recorded particularly strong performance and increasing sales over the past several years. Sales totaled €15.1 billion last year, up 5.7 per cent from 2016 to confirm the operator’s health ahead of its now inevitable privatisation.

The state-run entity sells scratchcards and other lottery products and also runs online lottery and betting operations. Scratchcards generated sales of €7.4 billion last year, up 8 per cent from the previous year. Other lottery products added €5.2 billion to the whole, representing a 5.2 per cent increase from a year earlier. Sports betting contributed the amount of €2.5 billion last year, up 0.3 per cent.

Here it is important to point out that Francaise des Jeux is Europe’s second-largest lottery operator, with Italy’s Lottomatica being the only one ahead.

According to previous reports from local media outlets, Francaise des Jeux is not likely to be taken public before 2019. It is believed that the state would sell around 50 per cent of the lottery operator to reduce its stake in it to just 22 per cent.

As stated by analysts, a €15-plus-billion sale of Francaise des Jeux, ADP, and Engie will represent the largest divestment wave initiated by the French state since 2004–2007 when it sold shares in the country’s former phone monopoly and launched IPOs of a major electric utility company and a gas company.

 

Source: CasinoNewsDaily

Source: European Gaming Media and Events

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Caesars and Eldorado Set Date for Shareholders Meetings

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Caesars Entertainment and Eldorado Resorts have announced that they will hold separate shareholder meetings on November 15 to vote on their proposed US$17.3 billion merger.

The meetings will see Caesars shareholders cast their vote at Caesars Palace in Las Vegas from 9 am Pacific Time while Eldorado shareholders will converge on Eldorado Resort in Reno. At stake is one of the biggest corporate gaming industry deals in history, with Eldorado looking to acquire the entire outstanding share capital in Caesars by way of a US$7.2 billion cash payment, 77 million Eldorado common shares and the assumption of Caesars’ outstanding net debt.

If approved, Caesars will merge with Eldorado subsidiary Colt Merger Sub Inc and become a new wholly-owned Eldorado subsidiary existing under the Caesars name.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Caesars and Eldorado Set Date for Shareholders Meetings

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Tom Horn’s Hot’n’Fruity promises classic entertainment with huge winning potential

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Watch the winning blaze explode !

Tom Horn Gaming’s new slot game, Hot’n’Fruity, promises to satisfy any craving for a feature-packed, visually attractive gaming entertainment.

In recent months the provider has upped its game, releasing more engaging titles with new innovative features, while still keeping classic player experience alive. This well-balanced combination of new ideas, presented in the form of game mechanics, and a tried and tested game concept, theme or visual is reflected also in Hot’n’Fruity.

Despite its thematic simplicity, this 5-reel slot is extremely engrossing due to its nifty features and winning rhythm. There are two symbols to look for. A W-star symbol appears anywhere on the screen and acts like a random Wild showering players with unexpected big wins.

R-stars are the ultimate characters to come across in Hot’n’Fruity as they trigger a Respin Wild feature when they land on the 2nd, 3rd or 4th reel. They expand to cover the whole reel, remaining in place while the other reels respin.

This game is sure to award lucky players with many winning opportunities. In addition to a nicely devised winning pattern, the art style is extremely well drawn and quickly pulls players into the settings.

The game is just another fruity slot, but a more inspired, nuanced alternative sure to capture the attention of players in many markets. It is available worldwide from 15th October 2019.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Tom Horn’s Hot’n’Fruity promises classic entertainment with huge winning potential

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Privatisation of FDJ to Begin in November

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Bruno Le Maire, France’s finance minister, has revealed that the subscription period for Française des Jeux’s (FDJ) initial public offering (IPO) will run from November 7–20. The privatisation of FDJ, the leading operator in Europe, in being anticipated as one of the year’s main highlights.

Bruno Le Maire said that French people and investors will have the chance to subscribe to FDJ shares between November 7 and November 20. He added that the state will not fix a limit for the offering, and that retail investors will get one free share for every 10 shares purchased and a 2% discount on the offer price.

The French state currently holds 72% of FDJ, but after the privatisation, it will only have 20% of the company. Government spokeswoman Sibeth Ndiaye said that the ordinance ends the FDJ monopoly to replace it with a limited-term right, set at 25 years and renewable.

“I hope that this privatisation popularly succeeds with the widest participation possible,” Le Maire said. The minister added that the privatisation will allow the company to develop and reach its full potential.

As part of the privatisation, the French government unveiled the creation of the L’autorité nationale des jeux (ANJ), which will replace L’autorité nationale de régulation des jeux en ligne (ARJEL).

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Privatisation of FDJ to Begin in November

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