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Loto-Québec divests stake in France’s JOA Groupe

13th November 2014 12:56 pm GMT

Canadian provincial lottery operator Loto-Québec has sold off its 35 per cent stake in French online and land-based gaming operator JOA Groupe which is beset by financial difficulties.

Loto-Québec concluded a write-off of $120.5m of its investment in JOA Groupe between 2009 and 2012, having invested an initial $87m in 2005.

It has now relinquished its stake in the business to an unnamed buyer, for no fee.

The operator had originally invested in the business through its [...]

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