Compliance Updates
FDJ: Conclusion of the European Commission’s investigation
FDJ takes note of the European Commission’s decision concluding that no State aid was granted to FDJ during its privatisation and that the equalisation payment should be re-evaluated from €380 million to €477 million, i.e. an additional sum of €97 million.
This decision concludes the formal investigation that the European Commission opened on 26 July 2021 to determine whether the €380 million sum that FDJ paid to secure its exclusive rights to operate point-of-sale sports betting and the lottery for a 25-year term, was appropriate.
FDJ welcomes the closure of this investigation and the European Commission’s confirmation, in line with the French Conseil d’Etat’s decision of 14 April 2023, that the legal framework adopted when the Group was privatised was robust.
FDJ has also taken note of the additional equalisation amount, valued by the European Commission at €97 million. The equalisation payment re-evaluated at €477 million is within the range initially established by the French Commission des participations et des transferts in its opinion no. 2019-A.C.-1 of 7 October 2019.
Impact on net profit and on the calculation of the dividend per share
This additional equalisation payment is recognised as an intangible asset – “exclusive operating rights”, in the same way as the initial amount of €380 million. As such, it will be amortised over 25 years starting on 23 May 2019, which is the effective date of the Pacte Law no. 2019-486.
FDJ Group announces that it will base its future dividend payments, beginning with those relating to its results for the 2024 financial year, on the adjusted net profit.
This adjusted net profit reflects FDJ’s actual economic performance and allows the Group to monitor and compare its performance against its competitors. It is based on the consolidated net profit restated for the following items:
- In 2024:
- the additional amortisation over the 2019-2023 period recognised under exclusive rights in France amounting to €17.9 million.
- The non-cash impact of the currency hedge relating to the acquisition of Kindred Group, which is recognised under financial result.
- Depreciation and amortisation of intangible and tangible assets recognised or revalued when allocating the purchase price of business combinations.
- And changes in tax resulting from these items.
Note that total amortisation of exclusive operating rights will amount to €37.0 million in 2024 and €19.1 million in 2025 after €15.2 million in 2023.
FDJ Group recalls that since 10 May and the French Court of Cassation’s ruling in favour of the FDJ Group in its dispute with Soficoma, which enabled it to cancel 3% of its share capital, the Group’s share capital now stands at 185,270,000 shares.
The post FDJ: Conclusion of the European Commission’s investigation appeared first on European Gaming Industry News.
Compliance Updates
Washington’s Lottery Achieves Nation’s Highest Level of Responsible Gambling Certification
Washington’s Lottery announced that it has achieved the highest level of responsible gambling certification in the country. As acknowledged by the National Council on Problem Gambling (NCPG) and the North American Association of State and Provincial Lotteries (NASPL), Washington’s Lottery officially was certified for “Responsible Gambling Verification Best Practices at the Sustaining Level” in December 2024, the culmination of a process that began with certification at the Planning Level in 2019 and Implementation Level in 2021.
Washington’s Lottery is only the third state lottery in addition to Virginia and Ohio to achieve this milestone. NCPG and NASPL also recognize nine other state lotteries that have achieved a similar certification through the World Lottery Association.
“I can’t begin to express how proud I am of the work our team has done to achieve this important standard. We have a unique obligation as a state agency that sells a gambling product and need to balance the goal of raising money for important state initiatives like education with the need to acknowledge and assist the small percentage of players who may experience gambling-related distress. We take that work very seriously and weave it into all aspects of our jobs,” Kristi Weeks, Director of Legal Services for Washington’s Lottery, said.
To receive the Sustaining Level certification, Washington’s Lottery was evaluated by a team of four independent experts, who reviewed the lottery’s efforts in eight key categories related to responsible gambling: planning, employee training, retailer training, public education and awareness, product oversight, research, advertising, and resources.
“The key to our success has been the integration of responsible gambling initiatives into each and every employee’s position rather than centralizing it into only one or a few positions,” Weeks added.
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CT Gaming has announced that its latest multigame, Diamond King 4, has officially received certification to launch in the Bulgarian market.
“The certification of Diamond King 4 marks a significant milestone, allowing us to expand our presence in gaming halls across the country. This further solidifies our market position and provides operators and players access to one of our most innovative offerings,” Biser Bozhanov, Director of Strategy & Business Development at CT Gaming, said.
Built on the success of its predecessors, Diamond King 4 is designed to exceed expectations and establish itself as the next favorite among players. Launched in celebration of the company’s 25th anniversary, this multigame embodies CT Gaming’s core values – innovation and tradition. It combines classic and modern titles, appealing to both long-time fans of iconic games and new-generation players with enhanced graphics and contemporary gameplay solutions.
One of Diamond King 4’s standout features is its integration with the progressive jackpot Diamond Tree Deluxe. The new concept introduces a variety of reward options and a more engaging player experience, enriched with additional bonus features. Furthermore, the multigame package includes the fan-favorite Duck of Luck, now featuring a fully updated Buy Bonus option.
“We believe this certification is just the beginning of Diamond King 4’s successful integration into key markets – both in Europe and globally,” Biser Bozhanov added.
The post CT Gaming Receives Approval to Launch Diamond King 4 in Bulgarian Market appeared first on European Gaming Industry News.
Network Ten has been found in breach of broadcasting rules after airing gambling advertisements during the australian Formula 1 Grand Prix in March 2024.
An Australian Communications and Media Authority (ACMA) investigation found four gambling ads were aired at prohibited times during a broadcast of the first practice round of the Grand Prix.
Under the Commercial TV Code of Practice (the Code), gambling promotions cannot be shown during broadcasts of sporting events between 5am and 8.30pm, including the five minutes before and after the event.
Authority member Carolyn Lidgerwood said the rules around gambling advertisements on TV are there to protect the community from gambling related harms.
“Broadcasters should have strict controls in place to ensure compliance with the restrictions on gambling ads during sporting events,” Ms Lidgerwood said.
Practice rounds and qualifying rounds for motorsports are subject to the same restrictions on gambling advertising as the main event itself.
This is the first breach by Network 10 of the gambling advertising rules in the Code. During the investigation, Network 10 submitted that the broadcasts occurred due to human error.
Following the ACMA’s breach finding, Network 10 voluntarily improved the planning, checks and balances it has in place for ad scheduling and has, at the ACMA’s request, agreed to review its processes to introduce additional quality controls.
Network 10 will also train staff to avoid similar issues in the future and will provide a written progress report to the ACMA.
In a separate investigation in 2024, the ACMA found that streaming service 10 Play, provided by Network 10, breached online gambling advertising rules during two live-streamed sports events.
“The ACMA will closely monitor these actions and Network Ten’s compliance with the broadcasting and online gambling advertising rules,” Ms Lidgerwood said.
The post Network 10 Breaches Gambling Ad Rules During Formula 1 Grand Prix Broadcast appeared first on European Gaming Industry News.
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