The French lottery and gaming operator saw revenue climb to €537.6m in Q1.
France.- The lottery and gaming operator La Française des Jeux (FDJ) has reported a 5.2 per cent rise in revenue year-on-year for the first quarter despite restrictions on retail operations due to France’s Covid-19 countermeasures.
Revenue for the quarter reached €537.6m, with gross gaming revenue up by 5.1 per cent at €525.9m and revenue from other activities up 10.7 per cent at €11.8m.
Stakes increased by 11.8 per cent year-on-year to €4.6bn. Stakes in sports betting were up by 46.1 per cent year-on-year at €1.1bn.
The increase in stakes was partly due to the lower results in the prior-year quarter due to the cancellation of many sporting events in March 2020 due to the Covid-19 pandemic.
However, the increase in Q1 2021 comes despite bars, which account for around 10 per cent of FDJ’s points-of-sale, being closed for the entire quarter.
Lottery, FDJ’s main source of income, saw stakes rise 3.8 per cent to €3.46bn, or 10 per cent not including the Amigo game, which saw stakes fall by 50 per cent due to the closure of bars where it’s sold.
Despite the impact of the Covid-19 pandemic, land-based operations continue to account for the largest proportion of stakes, up 5.7 per cent to €4.0bn. However, digital Stakes rose by 64.7 per cent year-on-year to €1.4bn.
The French regulator, the ANJ, reported record online gaming revenue in France in 2020.
FDJ chairwoman and chief executive, Stéphane Pallez, said: “Despite the continuing impact of the health situation, the first quarter confirmed positive trends for our business, with stakes exceeding the levels recorded before the crisis.
“After reaching almost 10 per cent of our global stakes in 2020, digital stakes continue to grow at a strong rate while our network activity is maintained.
“The events programme for lottery and a busy sporting calendar, including Euro 2021 in football, should allow this momentum to continue in the months to come.”