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France’s FDJ Warns of Financial Hit from Coronavirus Outbreak

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France’s FDJ Warns of Financial Hit from Coronavirus Outbreak
Photo Source: rfi.fr
Reading Time: < 1 minute

 

Francaise des Jeux, the operator of France’s national lottery, has warned of the financial hits to its business from coronavirus outbreak.

FDJ said that the government’s decision to urge people to stay indoors to combat the spread of the virus would have a negative effect on its main lottery business. Its sports betting business also suffered due to the cancellations of major sports tournaments.

FDJ forecasts a loss of about 120 million euros in revenue and about 50 million euros in EBITDA core earnings for 2020 in its sports betting division. The company said that around 80% of its sales network was allowed to remain open amid the lockdown ordered by French authorities.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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