French gambling company Française des Jeux (FDJ) has announced that it has agreed a deal to acquire Irish National Lottery operator Premier Lotteries Ireland (PLI) for €350 million.
The announcement was made in the company’s financial report for the first six months of 2023. The deal will see FDJ acquire 100% of the company from PLI’s three main shareholders; An Post and An Post Pension Fund, and Ontario Teachers’ Pension Plan. The deal is expected to go through in the second half of 2023 subject to regulatory approvals.
FDJ’s takeover means that this will be the first time in its history that the National Lottery will have no state ownership. When the company was privatized in 2014, the Ontario Teacher’s Pension Plan acquired 80% in a deal worth €405 million while state-owned An Post retained a 20% minor share.
The National Lottery released a statement following the announcement saying:
“The Irish National Lottery is and will continue to be, owned by the Irish State for the benefit of Good Causes, regulated by the Regulator of the National Lottery and operated by Premier Lotteries Ireland DAC.”
Managing director of Ontario Teachers’ Pension Plan Iñaki Echave added:
“We also care about entrusting the company to the right new owner and believe that a highly reputed international, like-minded lottery company as FDJ is well positioned to help PLI continue its success story.”
In 2022, PLI recorded gross gaming revenue (GGR) of €399 million and revenue of €140 million. PLI was awarded a 20-year license to operate the National Lottery in 2014.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.