With a turnover of almost EUR 10 billion 37

Everything began in 1539, when François I instituted the lottery and assigns its profits to charitable work. It is in this social vocation, that the associations of the first world war-wounded have received resources from the lottery. But, at the as, especially since the creation of the Française des Jeux in 1991, the welfare will give way to the fiscal interests of Governments. Of national and general interest became budgetary and State.

Since more than a month, the French games on sports betting monopoly and that the PMU's horse paris have called into question. This opening of the market is an active choice of the Government. Point of pressure from the European Commission, which has been unable to breathe one any harmonisation of the regulation and taxation in the European countries. No more penalty or risk of sanction of the Court of justice of the European communities. In fact, if the Government decided to rush the liberalisation of the games online it is a goal to increase tax revenues. By imposing the higher rates of taxation of Europe (7.5 of the of the players on sports and horse betting, and 2 of the updates on poker), the Government account surfer on the wave of the World Cup to reduce a part of the public deficit.

In this purely budgetary logic, an issue remains outstanding. What about the privatization of the French of the games Economists agree to consider that liberalization of a sector and privatization of the monopolistic public operators must go hand in hand to be mutually effective. In a 2006 report, the Court of Auditors considered that "the interests of the State Agency should conduct a reflection on the future evolution of the shareholders of the French of the games". Or reaction of the Government, the institution of the rue de Cambon should highlight in its 2009 report that "the nature of the transaction was still not specified or even arrested in major lines and that the question of ownership had to be taken quickly."

In the current period of research of public revenues, nothing justifies the delay in the privatisation of the French of the games. First, the public majority of its capital (72) did not prevent that this operator is a vector of addiction with the disastrous social also as the Rapido games. Then, the JDF has still a competitive advantage significantly on other operators, who risk to be gradually trimmed by new entrants, with the inevitable decline of taxation were observed in countries with already opened their market. With a turnover of almost EUR 10 billion, 37.600 points of sale, nearly 30 million players, the JDF could benefit from a greater than 10 billion valuation. Finally, it cannot nor explain the delay in reaching this decision by the weakness and the current volatility of the stock markets. Indeed, techniques of privatization out of financial market is diverse and allow the State to establish a pool of financial sector and industrial partners. One can easily imagine that the prospect of competitive advantages for the biggest bookmakers French or foreign, and the growing interest for the sector investment fund will soon be set up auctions. The public shareholder must position themselves quickly because, not forget, once the property transferred (as were already done including the Italy and Britain), the State can always comfort with tax revenues collected on a strong growth market.