FDJ seeks a buyer for B2B unit
Groupe FDJ plans to sell Sporting Solutions.
France.- Groupe Francaise des Jeux (FDJ) has announced that it is looking for a buyer for its London-based B2B unit, Sporting Solutions. The group, which runs the French national lottery, has reportedly hired Oakvale Capital to seek potential candidates.
According to Gaming&Co, the operator brought in the London-based advisors on gaming mergers two months ago. The French gaming giant, which has made an offer to buy Kindred Group, bought the unit, then Sporting Group, in 2019, shortly after FDJ’s privatisation.
The reason for the sale is to focus on growing international B2C operations. As well as the acquisition of Kindred, FDJ has snapped up the Irish national lottery operator Premier Lotteries Ireland and the French online horse racing brand ZETurf.
The news makes sense since, at least in the long term, FDJ will presumably move to Kindred’s platform when the acquisition is complete.
FDJ 2023 results
Last week, Groupe FDJ 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.
