FDJ reports revenue increase in 1H19
The French gaming operator Française des Jeux (FDJ) posted good financial results in the first half of 2019 and said that the IPO will take place in coming months.
France.- Française des Jeux (FDJ) has reported its financial results for the first six months of the year. The French company reported good results in the six-month period, with turnover increasing 5% to €944 million.
FDJ reported that bets increased 7% to €8.4 billion, while lottery games, the core business of the FDJ, totalled €6.6 billion in the first half of the year. Scratching games alone posted progress of 7% due to the success of “Quitte ou Double,” which was launched in May.
Moreover, the sports betting segment was particularly successful in FDJ’s latest financial results. FDJ reached €1.8 billion in the first six months of the year, driven by the FIFA Women’s World Cup, which took place in June-July in France and the African Cup of Nations (CAN).
“The performances and achievements of the first half illustrate the success of our 2020 strategy. The plan aims at further growth, through the digital transformation of FDJ,” said CEO Stéphane Pallez, quoted in a statement.
”At the same time, we set the stage for the Group’s future development and the strengthening of our business model. It includes the development of the international B2B business and payment services, two of our strategic priorities. The 2025 plan was also recently adopted by the board of directors of the group,” she added.
FDJ launches startup fund
FDJ unveiled earlier this week V13 Invest, a new fund designed to allow people to take stakes in new startups. The €30 million fund will enhance business processes, the gaming giant said.
FDJ revealed that Serena, a tech-focused investment fund, will manage the startup fund. It will target minority shareholders in European startups with the aim of developing and diversifying activities.
Chief Executive Stéphane Pallez initiated the V13 Invest fund, which launched as part of FDJ’s “open invitation” strategy. “The aim of this strategy is to accelerate the company’s in-depth transformation by infusing it with a digital culture and fostering a better anchoring in the innovation ecosystem,” said FDJ.
The creation of V13 Invest illustrates FDJ’s desire to continue to explore digital solutions related to customer insight. It improves the customer experience and developing financial services in its point-of-sale network. In addition, V13 Invest will focus on entertainment. This is in line with the launch of FDJ in the organisation of eSports competitions in 2017.
