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FDJ acquiring Premier Lotteries Ireland28 July 2023(PRESS RELEASE) -- La Française des Jeux (FDJ) signed an agreement to acquire Premier Lotteries Ireland (PLI), which holds the exclusive rights to operate the Irish National Lottery until 2034. FDJ will acquire the entire share capital of Premier Lotteries Ireland for an enterprise value of 350 million euros. “I am very pleased to welcome Premier Lotteries Ireland, a long-lasting partner of the Euromillions community, within the FDJ Group for our first venture as lottery operator outside France,” said Stéphane Pallez, Chairwoman and CEO of FDJ Group. “This transaction is perfectly aligned with our international development strategy and our historical core business. It will enable FDJ to continue to grow while remaining true to its recreational, responsible and redistributive gaming model. We are looking forward to working together, taking the most of all collaboration opportunities.” In 2014, the Irish National Lottery’s license was awarded, for a 20-year period until November 2034, to Premier Lotteries Ireland, a consortium led by Canadian pension fund Ontario Teachers’ Pension Plan, together with An Post, Ireland’s national postal service and the An Post Pension Fund. In 2022, the Irish betting and gaming market was Europe’s 7th largest and 76% of adults in Ireland having played a lottery game. In 2022, out of a gross gaming revenue (GGR) of 399 million euros, Premier Lotteries Ireland gave 65%, or almost 260 million euros, to Good Causes through more than 4,000 charitable organizations, and reported net gaming revenue of 140 million euros with an EBITDA margin similar with FDJ. “FDJ’s backing marks the beginning of an exciting new chapter in PLI’s history, which will benefit Ireland’s National Lottery and its many stakeholders,” said Premier Lotteries Ireland’s CEO Andrew Algeo. “I am grateful to both OTPP and An Post who have been generous supporters of PLI, and the National Lottery has grown substantially and sustainably on their watch. The PLI team looks forward to creating an even better Irish National Lottery with FDJ and contributing to FDJ’s international lottery expansion.” With more than two hundred employees, Premier Lotteries Ireland offers a range of around 45 games, available through a diversified network featuring more than of over 5,300 points of sale, as well as online, with over 15% digital stakes. Draw games make up two-thirds of its stakes, and instant games one-third. The completion of this transaction is subject to customary conditions precedent, including approval by the regulator of the Irish National Lottery, and is expected to take place in the second half of 2023. In this transaction Clifford Chance and A&L Goodbody LLP served as legal counsel and BNP Paribas as financial advisor to FDJ.
FDJ acquiring Premier Lotteries Ireland
is republished from iGamingNews.com.
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