The H1 figures from La Française des Jeux (FDJ) reveal a notable increase in gaming revenue. The business had an 11% year-over-year rise in revenue, coming in at EUR 1.4 billion ($1.5 billion).
Nearly EUR 1.3 billion ($1.4 billion) of that amount came from gaming in France, a 7% rise over the previous year. The majority, or almost EUR 1 billion ($1.1 billion), came from lottery revenue, which increased by 5% thanks to outstanding results in instant and draw games. Revenue from sports betting increased significantly as well, reaching EUR 294 million ($319 million).
Additionally, FDJ’s digital revenue surged by 40% year-on-year to EUR 201 million ($218 million), attributed to a boost in active players. Recurring EBITDA climbed 23% to EUR 370 million, with a margin of 25.9%, and adjusted net profit for the period was EUR 235 million, up 28%.
Stéphane Pallez, FDJ’s chair and CEO, stated, “This solid performance confirms our annual targets. In addition, we hope to finalize the acquisition project of Kindred in the near future, thereby marking a major new step in the Group’s development, both internationally and in our online sports betting and gaming activity, to the benefit of all our stakeholders.”
Acquisition of Kindred Group
FDJ is also moving forward with its planned acquisition of Kindred Group. During the company’s analyst call, Chief Financial Officer Pascal Chaffard addressed concerns about the potential market impact, asserting that the acquisition would not monopolize the French lottery and betting market.
Although some have suggested that this agreement may impede competition, Chaffard refuted these assertions. He clarified that FDJ will not be the biggest operator in France even with Kindred. Rivals like Winamax and Betclic, with a combined market share of about 60%, would continue to be in the lead.
Chaffard also emphasized the differences between FDJ’s betting and lottery businesses, pointing out that they serve different player categories and use different consumer wallets.
Later this year, Kindred’s acquisition is expected to conclude, which will represent a major growth for FDJ in the online and international sports betting markets.
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