FDJ shares drop after company warns coronavirus will hit revenue
20 Mar 2020
French lottery operator Francaise des Jeux, listed on the stock market by the government last year, warned on Friday of financial hits to its business from 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 pandemic.
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.