Ontario Teachers’ to sell Premier Lotteries Ireland to FDJ
London, UK – 27 July 2023 - Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) today announced that it has entered into a definitive agreement to sell its majority shareholding in Premier Lotteries Ireland DAC (“PLI”) to La Française des Jeux (“FDJ”), the lottery and online gaming operator. As part of the transaction, PLI’s other shareholders, An Post and the An Post pension fund, also will sell their minority shareholdings in PLI to FDJ.
PLI, headquartered in Dublin, is the operator of the Irish National Lottery having been awarded a 20-year licence by the Irish Government in November 2014. PLI’s core purpose is to operate a responsible world-class lottery for the people of Ireland, raising much needed Good Causes funding for the benefit of local communities throughout the country.
Since being awarded the licence to operate the Irish National Lottery, PLI has brought the game to its strongest-ever position and, in turn, raised over €1.9 billion for Good Causes, with 2021 and 2022 being the most successful years in that regard.
FDJ is the largest French lottery gaming operator and a leading European player, offering responsible gaming and a commitment to Good Causes funding. It operates a diversified gaming range across lottery and sports betting. FDJ and PLI have a long-standing partnership successfully operating the transnational EuroMillions lottery and FDJ has the resources and expertise to support PLI’s continued growth and development.
Iñaki Echave, Senior Managing Director at Ontario Teachers’, said: “We’re honoured to have partnered with An Post and the PLI team over the last nine years to create an even better lottery for Ireland. We’d like to thank the leadership team and PLI employees for their contribution. As long-term investors, we aim to build stronger companies that create value for the communities they serve and PLI has generated record levels of sales and contributions to Good Causes. We also care about entrusting the company to the right new owner and believe that a highly reputed international, like-minded lottery company as FDJ is well positioned to help PLI continue its success story.”
Vivienne Jupp, Chair of PLI, said: “PLI has moved from strength to strength since winning the licence for the Irish National Lottery. I would like to thank Ontario Teachers’ and An Post for their support in building PLI into a leading European operator in the period since 2014. During that time, the team at PLI has delivered for Good Causes and the community and looks forward to the next chapter of growth, where we will be able to share best practices with FDJ and continue to operate a responsible world-class lottery for the people of Ireland.”
The transaction is subject to customary closing conditions and regulatory approval.
Ontario Teachers' Pension Plan
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About Ontario Teachers' Pension Plan
Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $247.2 billion as at December 31, 2022. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.
With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our more than 400 investment professionals bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.5% since the plan's founding in 1990. At Ontario Teachers', we don't just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.
About Premier Lotteries Ireland Limited
Premier Lotteries Ireland DAC (PLI) is the operator of the Irish National lottery having been awarded a 20-year license by the Irish Government in November 2014. The core purpose of PLI is to operate a responsible and world-class lottery for the people of Ireland, raising much needed Good Cause funds for the benefit of local communities throughout the country.