March 20, 2020 / 6:38 AM / 13 days ago

BRIEF-FDJ Says Coronavirus Will Impact Its 2020 Revenue, EBITDA

March 20 (Reuters) - LA FRANCAISE DES JEUX SA:

* COVID-19: FDJ GROUP’S SITUATION

* CONTINUITY OF OPERATIONS ASSURED THANKS TO EFFORTS BROUGHT TO BEAR ACROSS GROUP

* HAS STRONG FINANCIAL POSITION, WITH A LARGE AMOUNT OF CASH AVAILABLE IN SHORT TERM

* FOR FINANCIAL YEAR 2020, SPORTS BETTING WILL BE SIGNIFICANTLY AFFECTED BY COMPETITION CANCELLATIONS

* GOVERNMENT MEASURES AND COMPANY’S DECISION TO SUSPEND SALES FOR “AMIGO” GAME

* GLOBAL AND SIGNIFICANT ACTION PLAN ALREADY UNDER WAY TO LIMIT IMPACT OF DECLINE IN ACTIVITY ON GROUP’S PROFITABILITY

* IS POSTPONING GENERAL MEETING INITIALLY TO BE HELD ON 22 APRIL 2020 TO 18 JUNE 2020 AND PAYMENT DATE FOR DIVIDEND OF EUR 122 MILLION TO 30 JUNE 2020

* IS WORKING TO ACHIEVE ADDITIONAL REDUCTIONS IN ITS COST BASE AND TO ALLOW FOR RETURN TO FULL OPERATIONS AS SOON AS CIRCUMSTANCES PERMIT

* HAS SUFFICIENT CASH AVAILABLE IN SHORT TERM TO DEAL WITH SITUATION

* CONTINUES TO POST GOOD RESULTS FOR ITS ONLINE LOTTERY GAMES

* AMIGO” GAME SALES HAVE BEEN SUSPENDED AS A PRECAUTIONARY MEASURE, TO AVOID PEOPLE GROUPING IN FRONT OF SCREENS AT POINT OF SALE

* ANTICIPATES A LOSS OF ABOUT EUR 120 MILLION IN REVENUE AND APPROXIMATELY EUR 50 MILLION IN EBITDA FOR FINANCIAL YEAR 2020 FOR SPORTS BETTING Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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