Boosted By Acqusitions, France’s FDJ Reports Tidy Q3 Revenue Increase

France’s national lottery operator La Française des Jeux (FDJ) has reported a 3.9 percent revenue increase to €1.875 billion (£1.632bn) for its Q3, ending September 2023.

The revenue growth excluded results from the gaming segments Euromillions and Amigo.

FDJ’s national lottery segment experienced sales of €1.407bn (£1.22bn).

Revenue from Amigo, it was reported, decreased due to changes in its game formula; while Euromillions faced a reduction in high jackpot draws during the third quarter.

Revenue from sports betting and other online gaming grew by nine percent to €360 million (£313.97m), said FDJ.

In upcoming months, FDJ plans to integrate both ZEturf and Premier Lotteries Ireland (PLI) into its operations.

The addition of ZEturf will allow FDJ to expand its iGaming offerings. The acquisition of PLI–authorised by the Irish lottery regulator in October–is expected to complete early next month, November.

Growth

FDJ is now targeting revenue growth of around five percent for next year.

The French gaming behemoth also aims to keep its EBITDA margin at approximately 24 percent, principally through rigid cost controls.

FDJ expects an increase in financial income and plans to distribute between 80-90 percent of its consolidated net income to good causes.

“Our growth remains solid, with strong players’ demand, even though it has been affected by the low number of Euromillions high jackpot draws,” affirmed Stéphane Pallez, Chair and CEO of FDJ Group.

“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 internationalisation 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.”