National Lottery operator sold to French company for €350m

Premier Lotteries Ireland, the company that holds the exclusive licence to operate the Irish National Lottery, has been sold to French gaming company and lottery operator La Française des Jeux (FDJ) in a deal worth €350 million.

The company, which holds the rights to the lotto until 2034, was majority owned (80 per cent) Ontario Teachers’ Pension Plan (OTPP) with An Post retaining a 20 per cent stake in the business since 2014.

Under the terms of the deal, the entire share capital of Premier Lotteries will be sold to FDL subject to regulatory approval.

The French company said in a statement on its website on Thursday that the deal was expected to be completed in the second half of the year.

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David McRedmond, chief executive of An Post and a director of National Lottery, said the agreement was a “positive outcome for Ireland”.

He said: “FDJ’s industry expertise will be hugely beneficial to the future operation, and strengthens Ireland’s ties to its nearest EU neighbour.”

“This is a very good business for An Post,” said the postal operator’s chief financial officer Peter Quinn, “and reflects well on the success of managing the investment in the National Lottery. We look forward to working closely with FDJ on future strategy to service customers and to ensure maximum contributions to good causes now and for generations to come.”

Stéphane Pallez, chairwoman and chief executive of FDJ, said: “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. This transaction is perfectly aligned with our international development strategy and our historical core business.”

The Irish Times reported in March that OTPP was planning to sell the business despite having more than a decade remaining on its licence.

The Canadian group recently sold its UK lotto business, Camelot, to rival gaming group Allwyn after Camelot surprisingly lost the concession to operate the UK lottery.

OTPP saw off intense competition from Italian gaming giant Gtech and Australian gambling firm Tatts to win the concession in 2014 to operate the Irish lottery. One of the chief selling points was a greater ability to operate online, which had been restricted up to that point.

An Post said that since the awarding of the new licence until year-end 2022, more than €1.9 billion had been contributed to good causes across the island.