La Française des Jeux Generates 1.875 Billion In Revenues From January to September 2023, Acquires ZEturf and PLI

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France’s leading gaming operator and one of the industry leaders worldwide, La Française des Jeux (FDJ), announces its revenue figures for the period January – September 2023 inclusive.

3.9% Higher Revenue Levels:

In the press release, the company reported the revenue of €1,875 million was reached by the end of September to stand for a 3.9% increase over the same period last year. Over the same period, FDJ generated €4,808 million in gross gaming revenue (GGR) to arrive at net gaming revenue of €1,771 million after tax and levy deductions.

Other activities brought €103 million to the Group to end September 2023 with the €1,875 million in revenues, which is 3.9% more than in the same period of 2022. The company generally expanded its operations for the first nine months of 2023 with sales operations going up by 1.3% despite a slightly slower third quarter of 2023 that recorded €586 million in revenues to see a 1% decline on the y-o-y basis.

Lottery and Instant Games:

FDJ stakes increased increased 0.8% thanks to the strong sports betting and instant games operations. Digital stakes were up 10.6% , thanks to the increased handle. The company’s online lottery saw a 12% stake increase despite the modest performance of the Amigo and Euromillions products. The company’s lottery business therefore went down by 1.2% to record €1,407 million in revenues. Instant games stakes were increased by more than 4% but draw games reported a 6% decline due to the high jackpot Euromillions having been drawn 19 times in September 2023 versus 32 times of September 2022.

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Sports betting and online gaming:

Sports betting and online gaming operations generated a total of €360 million in GGR for the first nine months of 2023 to represent an increase of 9.3% over the same period in 2022. This business was strong in the given period despite a less favorable sports event calendar this year. It seems that the company wants to boost these operations regardless of the calendar as it acquired ZEturf, the second largest online horse wagering operator in France.The acquisition will make the FDJ Group one of the leading online gaming operators in the jurisdiction as it will now have sports betting, horse betting and poker operations completely covered.

Acquisitions of ZEturf and Premier Lotteries Ireland:

The acquisition was reportedly finalized at the end of September 2023 and is expected to double the revenue of FDJ online gaming business. Likewise, the acquisition of the Irish national lottery operator, Premier Lotteries Ireland (PLI), represents a significant milestone in the company’s international expansion. The deal will be finalized in November 2023 and is expected to boost the player base for draw games. FDJ expects to capitalize on the Irish operator’s portfolio that had brought this operator a €399 million GGR level.

2023 Targets:

The Group expects to reach the 5% revenue growth target by the end of 2023. It will reportedly benefit from the financial income level having been almost doubled since the month of June. According to the press release, the company remains committed to distribute between 80% and 90% of its consolidated net income.

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Stéphane Pallez, Chairwoman and CEO of FDJ Group, reportedly said: “Our growth remains solid, with strong players’ demand, even though it has been affected by the low number of Euromillions high jackpot draws. At the same time, the completion of the acquisition of ZEturf at the end of September and the forthcoming closing of Premier Lotteries Ireland acquisition in November illustrate our strategy of internationalization and diversification. We are delighted that the teams of these two operators are joining FDJ and that these operations will contribute to the Group’s sustainable and profitable growth.”

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