Industry News

FDJ Reports 200 Million-Euro Sales Loss from COVID-19 Crisis

Published

5 years ago

June 19, 2020

Niji Narayan

FDJ Reports 200 Million-Euro Sales Loss from COVID-19 Crisis

Reading Time: < 1 minute

Stephane Pallez, the CEO of French lottery operator Française des Jeux, has reported a 200 million-euro ($225 million) loss in the company’s sales from the COVID-19-related lockdown.

Pallez also reported a 100 million-euro loss in earnings before interest, taxes, depreciation and amortisation (EBITDA).

FDJ said in April it had started looking at cost-cutting plans aimed at saving more than 80 million euros. The company, which was listed on the stock market by the government last year, will report first-half results on July 29.

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Niji Narayan

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.