La Française des Jeux (FDJ) has reported a year-on-year revenue increase of 7.2% during Q1, reaching €710m (£607.8m/$758.1m) for the first quarter.
FDJ’s gaming revenue for Q1 was €645m, up 3.1% on the same quarter last year. FDJ lauded its strong momentum in online games, with revenues of €100m, making up close to 15% of the group’s total gaming revenue.
FDJ previously stated it was targeting 8% revenue growth over 2024. While it has so far fallen just short of that, the upcoming sports schedule, which includes the European Championships and Olympic Games in Paris, may provide a boost to its hopes of reaching that 8% growth objective.
Lottery revenue saw a 1.4% increase during Q1, reaching €504m from the €497m reported in the same quarter last year. Sports betting and competitive online gaming revenue recorded €141m in revenue, also up 9.5% on Q1 2023.
Meanwhile, revenue for other activities such as payment and services stood at €65m, 77.4% up on the €37m reported in last Q1.
“FDJ has made a good start to the year, in line with its 2024 objectives,” said Stéphane Pallez, chairwoman and chief executive of the FDJ Group.
“All our activities are growing, thanks to our network of over 29,000 retailers and a dynamic online gaming business, which now accounts for 15% of the group’s gaming revenue.”
Lottery growth driven by instant games
With lottery revenue rising 1.4%, FDJ stated this was largely down to growth of over 4% in instant games. However, draw games revenue was down by 3%.
FDJ also noted that revenue from sports betting and online gaming open to competition was up despite the challenging comparison from the same quarter last year, which had benefitted from lasting impacts of the World Cup in Qatar, which finished in December 2022.
FDJ highlighted the impact of ParionsSport En Ligne, the FDJ’s online sports betting arm, on the overall growth, with revenue from that sector increasing by over 25%.
Excluding ZEturf and Premier Lotteries Ireland, both of which it acquired in 2023, growth in FDJ’s online games revenue was over 20%. FDJ attributed that growth to sports betting and online lottery.
Pallez confident of getting Kindred deal over the line
FDJ submitted an offer worth worth SEK27.96bn (£2.10bn/€2.45bn/$2.67bn) to acquire the entire outstanding share capital of Kindred Group in January.
Following the bid, FDJ declared that the move to acquire Kindred would form the second largest operator in European gaming, with enhanced earnings and revenue potential.
“We are also confidently pressing ahead with the Kindred acquisition announced at the end of January,” Pallez confirmed.
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