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.
The Dutch Gambling Authority (KSA) has for the first time imposed a fine of €734,000 on one of its licensees because the company failed to adequately protect young adults against excessive gambling and gambling addiction.
Gambling companies have a duty of care and must protect players as much as possible against excessive gambling and gambling addiction. According to the KSA, the provider in question has not sufficiently complied with this duty of care and will be fined for this.
The KSA started an investigation after signals about large losses suffered by young adults. In this investigation, a selection of 10 of the player files with the largest losses were examined at the provider, whereby violations were found in all files. These were young adult players (18 to 23 years old) who gambled away tens of thousands of euros in often a relatively short period of time.
Michel Groothuizen, chairman of the board of the KSA, said: “We have a licensed gambling market based on the idea that anyone who wants to gamble can do so safely. That is why providers have a duty of care towards their players and must respond adequately to excessive gaming. Major losses are an important signal of that. We have intensified our supervision of the online duty of care and we take tough action against violations such as those we find here, because we really do not want to see providers continue to fail in their duty of care, especially for vulnerable young players.”
The post KSA: Fine of €734,000 Imposed for Breach of Duty of Care appeared first on European Gaming Industry News.
Aviatrix has received certification to offer its award-winning crash game to operators in Estonia.
It marks the latest regulated market that Aviatrix has entered into, with the game already live in the country with leading brand FenixBet.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “Securing certification in Estonia is another exciting step forward for Aviatrix as we continue to expand into regulated markets. We’re thrilled to already be live with FenixBet and look forward to delivering our innovative crash game experience to even more players in the country.”
Aviatrix has added a host of regulated markets over recent months, including Spain, Colombia, Brazil and Peru.
It underlines the team’s commitment to bringing the game to players around the world.
Aviatrix is a constantly evolving game, with regular feature updates for partners, including the recent launch of free bets, now available through in-game promo codes.
The post Aviatrix granted certification in Estonia appeared first on European Gaming Industry News.
Playbook Fusion has been awarded a supplier licence from the UK Gambling Commission, granting it access to one of the most significant online betting markets in the world.
The approval means Playbook Fusion can offer its flagship Playbook Football™ title to UK-licensed operators for the first time, building yet more momentum behind the rising star studio.
Playbook Fusion made its debut in June 2024 with a mission to bring never-seen-before sports gaming content to the market.
This is done by enabling the worlds of sports betting and mobile/video gaming to collide in an entirely new genre of immersive sports-themed games.
Playbook Fusion’s unique wagering experience is showcased through Playbook Football™, a football strategy betting game where players build their own teams, compete in matches, earn rewards and climb divisions while placing bets.
UK operators who have an RGS integration with Games Global will be able to get first access to Playbook Football™.
Steve Rogers, Founder and CEO of Playbook Fusion, said: “Securing our licence from the UK Gambling Commission is a key moment for Playbook Fusion, granting us access to one of the most established online gambling markets in the world.
“Being able to satisfy the stringent criteria set out by the UKGC is a testament to the strength of the team which we have built at Playbook Fusion and, to achieve this milestone within such a short time period, is an accomplishment that we’re incredibly proud of. “
The post Playbook Fusion secures UK Gambling Commission licence appeared first on European Gaming Industry News.
-
Press Releases4 weeks agoGraffiti Rush marks PG Soft’s debut in graffiti-themed slots
-
Australia4 weeks ago
Crown Resorts Announces Ed Domingo as New CEO of Crown Melbourne
-
Latin America3 weeks ago
Paysecure expands reach across LATAM, showcasing solutions at SIGMA Americas
-
Amusnet2 weeks ago
Amusnet to Participate in the Third Edition of SiGMA Americas
-
Australia4 weeks ago
Gaming Compliance Checks Underway Across Regional NSW
-
Press Releases4 weeks ago
Kendoo expands Joker series with Flash Joker Fever
-
Compliance Updates4 weeks ago
Bigpot Gaming Secures Prestigious Malta Gaming Authority (MGA) License
-
Africa3 weeks ago
Springbok Casino is Offering 25 Free Spins in Honour of South Africa’s Top 5 Wild Egg Hunters
