The EU Commission said the French gambling provider did not receive unfair state aid

PARIS: The fee French gambling provider Française des Jeux (FDJ) pays for its monopoly on lottery games and sports betting complies with competition rules after adjustments, the European Commission said on Thursday.

The Commission’s decision, following an in-depth investigation into state aid, confirms the legality of French legislation on FDJ’s privatization, including the company’s exclusive rights to provide lottery games and sports betting for 25 years.

The company’s shares were up about 6 percent on the Paris Stock Exchange by 1411 GMT.

In 2020, the EU executive body received two complaints alleging that FDJ received unjustified state aid because the €380 million ($412.98 million), or €15.2 million per year, it was required to pay. was too low.

The EU said that as a result of the investigation, some changes were made to the parameters for calculating the amount, resulting in a new total award of 477 million euros, which is in line with the bloc’s rules.

The FDJ said in a statement it took note of the Commission’s decision and the revised state aid figure.

“The FDJ welcomes the closure of this investigation and the confirmation by the European Commission, in accordance with the decision of the French Council of State of 14 April 2023, that the legal framework adopted for the privatization of the group was reliable.

($1 = 0.9201 euro)