The European Commission has rejected two complaints alleging the monopoly control Française des Jeux (FDJ) has over sports betting and lottery products in France is unfair.
The comprehensive investigation concluded that this 25-year exclusive arrangement was legal and that the state aid it received was legitimate. FDJ’s share price jumped 5% on the back of the news.
claimed the €15.2m ($16.5m) that FDJ pays the government annually is too little
Complainants from 2020 claimed the €15.2m ($16.5m) that FDJ pays the government annually is too little and the discount to the true market value is a form of unjust state aid. While the Commission decided to increase the total payments by €97m ($105m) over the 25 years, it took no other action.
The gambling operator welcomed the news of the Commission’s ruling that its privatization in July 2018 was fully legal. The French government sold half of its 72% ownership in the operator to boost public finances.