Good 1st Quarter of 2024 for FDJ, in line with Group projections
In This Article:
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Revenue for the 1st quarter of 710 million euros, up 7%
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Gaming revenue1 in France of 645 million euros, up 3% on a high basis of comparison in the 1st quarter of 2023
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Strong momentum in online games, with revenue of 100 million euros, representing almost 15% of the Group’s total gaming revenue
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Tender offer for Kindred opened on 20 February 2024 for a maximum period of 9 months
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The completion of the tender offer remains subject, in particular, to obtaining regulatory approvals and to FDJ acquiring at least 90% of Kindred’s share capital
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BOULOGNE-BILLANCOURT, France, April 17, 2024--(BUSINESS WIRE)--Regulatory News:
La Fran?aise des Jeux (FDJ) (Paris:FDJ), France’s leading gaming operator, has announced its revenue for the 1st quarter of 2024.
Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: "FDJ has made a good start to the year, in line with its 2024 objectives. 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. We are also confidently pressing ahead with the Kindred acquisition announced at the end of January."
Highlights of the 1st quarter of 2024
- Revenue up 7% to 710 million euros
| Q1 2024 €m | Q1 2023 €m | Change in % | of which change on a like-for-like basis % | |
| Lottery | 504 | 497 | +1.4% | +1.4% |
| Sports betting and competitive online gaming | 141 | 129 | +9.5% | +0.9% |
| Other activities | 65 | 37 | +77.4% | -3.7% |
| Group total | 710 | 662 | +7.2% | +1.1% |
Revenue for the 1st quarter of 2024 came to 710 million euros, up 7.2% and 1.1% on a like-for-like basis, a performance in line with Group projections.
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Gaming revenue in France rose by 3.1% to 645 million euros.
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Lottery revenue rose by 1.4% to 504 million euros, driven by over 4% growth in instant games, driven by the success of gaming portfolio animation such as the launch of Ticket d’Or (€5) at the beginning of January. Draw games, as expected given the unfavourable base effect, mainly for Amigo, were down by 3%. Excluding Amigo, which decline is attributable to its new formula launched at the beginning of June 2023 has stabilised, lottery revenue would have grown by more than 4%.
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In sports betting & online gaming open to competition, revenue came to 141 million euros, up 9.5% and up 0.9% excluding the integration of ZEturf, despite a high basis for comparison in the 1st quarter of 2023, which had benefited in particular from the very positive impact of the World Cup at the end of 2022.
This performance is attributable to the strong growth in revenue of ParionsSport En Ligne, which rose by more than 25%; which, in addition to its intrinsic momentum, also benefits from the attractiveness of poker, with a high level of cross-selling.
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