PARIS, March 20 (Reuters) - French lottery operator Francaise des Jeux, listed on the stock market by the government last year, agafay activite warned on Friday of financial hits to its business as a result of the coronavirus outbreak.
FDJ, whose lottery tickets are sold in bars and cafes, said the government's decision to urge people to stay indoors in a bid to contain the virus would have a negative effect on its main lottery business.
Its sports betting business also suffered from cancellations of major global sports tournaments due to the virus.
FDJ forecast a loss of about 120 million euros ($129 million) in revenue and about 50 million euros in EBITDA core earnings for 2020 in its sports betting division. ($1=0.9307 euros) (Reporting by Sudip Kar-Gupta)
French lottery operator FDJ warns of financial hit from coronavirus
por Hans Jorgensen (06/10/2021)
PARIS, March 20 (Reuters) - French lottery operator Francaise des Jeux, listed on the stock market by the government last year, agafay activite warned on Friday of financial hits to its business as a result of the coronavirus outbreak.
FDJ, whose lottery tickets are sold in bars and cafes, said the government's decision to urge people to stay indoors in a bid to contain the virus would have a negative effect on its main lottery business.
Its sports betting business also suffered from cancellations of major global sports tournaments due to the virus.
FDJ forecast a loss of about 120 million euros ($129 million) in revenue and about 50 million euros in EBITDA core earnings for 2020 in its sports betting division. ($1=0.9307 euros) (Reporting by Sudip Kar-Gupta)