France’s Agence des participations de l’État (APE) has hailed the success of the initial public offering of gaming giant La Française des Jeux (FDJ), which could generate proceeds of €1.89bn for the state.
French gaming operator La Française des Jeux (FDJ) has secured approval from the country’s stock market regulator to proceed with its initial public offering (IPO), in a move that marks the first step towards the privatisation of the business.
Greek lotteries and gaming solutions provider Intralot has reported an 8.5% year-on-year decline in revenue for the first quarter of its financial year, following weaker performances from all key business units.
French gaming operator La Française des Jeux (FDJ) has set out plans to ramp up corporate social responsiblity (CSR) efforts as part of a wider effort to clamp down on issues such as underage gambling, fraud and money laundering.
Greek lotteries and gaming solutions provider Intralot is to launch a cost reduction plan after reporting declines in turnover for all key operating segments in its 2018 results, with its struggles blamed on foreign exchange losses and the failure to secure new supply contracts during the year.
Zeal Network has increased its profit guidance for the 2018 financial year, with the lottery brokerage now expecting to post between €37m and €39m in earnings before interest and tax following a strong performance in the final two months of 2018.
Lottoland has expressed its disappointment at the decision of Zeal Network shareholders to approve the company’s pending acquisition of former subsidiary Lotto24, claiming that the operator has failed to secure a mandate to proceed with the deal.
Zeal Network has tuned down Lottoland’s offer of €76m to purchase its German business, with CEO Helmut Becker again accusing the lottery betting operator of trying to disrupt ongoing acquisition talks with Lotto24