French Court Rules in Favor of FDJ in Ownership Dispute

In a recent legal battle between FDJ and Soficoma over the ownership of 3% of FDJ, the Court of Cassation has reached a verdict. The ruling, which was issued on May 10, 2024, dismisses Soficoma’s appeal against the previous judgments made by the Aix-en-Provence Court of Appeal in 2022 and the Marseille Commercial Court in 2019. As a result, FDJ’s position as the sole owner of these shares is upheld.

The initial decision by the Marseille Commercial Court stipulated that Soficoma must sell its 5,730,000 shares to FDJ for a total price of €15,647,940. This court also declared that Soficoma’s status as a shareholder ceased on May 18, 2017. In line with this ruling, FDJ has the authority to record the transfer of these shares in its books.

FDJ acknowledges the recent verdict, which aligns with the shareholders’ meeting resolution from June 8, 2018. Consequently, the canceled 5,730,000 shares will cause a reduction in FDJ’s share capital, now comprising 185,270,000 shares.

It is worth noting that FDJ deposited the payment for these shares with Caisse des Dépôts et Consignations on May 18, 2017. Furthermore, any dividends associated with these shares, totaling €44,170,000, have been withheld by FDJ and will be allocated to the equity of the Group’s shareholders.

FDJ Group is a prominent player in the French betting and gambling industry, offering a wide range of lottery games, sports betting, horse racing betting, and poker. With its iconic brands and extensive sales network, FDJ leads the way in providing a responsible and innovative gaming experience. The company is listed on the regulated market of Euronext Paris and is part of several prominent indices.

For more information about FDJ Group, please visit their official website.

Adding additional information to the discussion, it is important to consider the current market trends and forecasts in the French betting and gambling industry.

Currently, the French betting market is experiencing steady growth, driven by the increasing popularity of online gambling and sports betting. According to a report by ResearchAndMarkets.com, the French online gambling market is projected to reach a value of €10.7 billion by 2025, growing at a CAGR of 12.5% during the forecast period.

One of the key challenges in the industry is the regulation and licensing of online gambling operators. The French government has implemented strict regulations to ensure responsible gambling practices and protect consumers. However, these regulations can create barriers to entry for new operators and limit the competitiveness of the market.

Another controversy associated with the subject is the impact of gambling addiction on society. While the French betting industry contributes significantly to the economy and generates tax revenue, there are concerns about the social and economic consequences of problem gambling. This has led to debates on how to strike a balance between promoting the industry’s growth and ensuring the well-being of players.

Overall, the French betting and gambling industry offers opportunities for growth, but it also faces challenges and controversies related to regulation and consumer protection.