La Française des Jeux (FDJ) has finalised its acquisition of Premier Lotteries Ireland (PLI), the operator which holds the exclusive rights to operate the Irish National Lottery until 2034.
The €380m ($408m) acquisition was announced on 28 July, with the company explaining that the acquisition would be achieved by taking 100% of PLI share capital.
Stéphane Pallez, FDJ Chairman and CEO, said: "La Française des Jeux is opening a new chapter in its history by realising its ambition to develop its international presence as a lottery and online gaming operator.
“The synergies between FDJ and Premier Lotteries Ireland will be based on our respective and recognised expertise to market a recreational and responsible gaming offer to the Irish general public."
In 2022, PLI reported that its gross gaming revenue (GGR) reached €399 million and revenue of €140 million, with an EBITDA margin rate comparable to that achieved by FDJ.
The exclusive licence to the Irish National Lottery was awarded to PLI in 2014, which will run for two decades until November 2034.
Andrew Algeo, Premier Lotteries Ireland CEO, said: "FDJ's support opens an exciting new chapter in PLI's history, which will benefit the Irish National Lottery and its many stakeholders.
“I am grateful to our shareholders, Ontario Teachers' and An Post, for their support, which has allowed the National Lottery to grow steadily and sustainably.
“The PLI team is looking forward to partnering with FDJ for an even better performing Irish National Lottery and contributing to FDJ's international expansion into the lottery sector.”
In the company's Q3 2023 report, FDJ announced €586m in revenue, totalling €1.88bn in revenue for the year so far.
