FDJ reports strong full-year results amid spree of acquisitions

The French gambling giant has reported a 6 per cent rise in revenue.

France.- Groupe FDJ has reported revenue of €2.61bn for 2023, a rise of 6 per cent year-on-year. Recurring EBITDA was up by 11.5 per cent at €657m. It said improved operating efficiencies had helped compensate for weak growth in its French lottery business.

French lottery revenue was up just 1 per cent at €1.91bn due to the high number of jackpot EuroMillions draws the year before. However, sportsbook and online gaming revenue was up 10 per cent at €518m.

FDJ is listed on the Paris Euronext. The group will become the second biggest gambling operator in Europe following its already completed acquisition of Premier Lotteries Ireland and of French racing betting operator ZeTurf and its planned acquisition of the Swedish online gambling group Kindred.

As highlights contributing to its 2023 performance, it noted market share gains for ParionsSport, which it said benefited from strong results post-World Cup. The integration of ZeTurf as of the fourth quarter is expected to further drive the growth of its sports betting offering.

FDJ noted that 2023 revenue had been affected by the the revision of the game formula for the AMIGO sales network ordered by the French gambling regulator Autorité Nationale des Jeux (ANJ).

The group reported a €3bn contribution to public finances.

CEO Stéphane Pallez said: “FDJ delivered solid growth and results this year. The group reached a major milestone in 2023 with the completion of the acquisition of Premier Lotteries Ireland and ZeTurf. The proposed acquisition of Kindred, announced at the end of January, will enable the creation of a European champion and significant value creation for the benefit of all stakeholders in line with our model, which combines performance and responsibility.”