FDJ records Q3 revenue increase in preparation for Kindred Group merger
French giant reports a 14% year-on-year increase for the quarter as revenue for the first nine months of 2024 surpasses €2bn
La Française des Jeux (FDJ) has recorded revenue of €669m (£556m) for the third quarter of 2024, representing a year-on-year (YoY) increase of 14.2%.
The group’s lottery division was the biggest contributor to the revenue total in Q3, making up €495m, an increase from the €449m recorded in Q3 2023.
Sports betting and online gaming generated €113m for Q3 2024, up from €103m, while revenue from International and payments and services came in at €61m, almost double that of Q3 2023’s €33m.
When looking at revenue for the nine months to the end of September 2024, FDJ generated €2.1bn, an 11.9% YoY increase on the €1.9bn recorded during the corresponding period last year.
Lottery revenue increased 6.6% YoY from €1.4bn to €1.5bn, which the firm says was driven by the success of products including Ticket d’Or and Maxi Black Jack, which launched in January and May, respectively.
Revenue from instant games rose 7.8% YoY, while draw game revenue went up by 9.9% (excluding Amigo), which FDJ attributed to EuroDreams and “more attractive Euromillions jackpots than in 2023”.
Sports betting and online gaming revenue open to competition up to September landed at €407m, an increase of 13.3% YoY, boosted by the impact of both Euro 2024 and the Paris Olympic Games.
Year-to-date revenue for international and payment and services came to €190m, up from €108m recorded in 2023.
FDJ also reported a sharp 39.3% increase in digital revenue, boosted in part by the acquisition of Premier Lotteries Ireland (PLI) online horseracing platform ZEturf towards the back end of 2023.
The integration of Premier Lotteries Ireland (PLI) drove the growth of point-of-sale revenue, which increased 8.6% YoY.
FDJ completed its acquisition of Kindred Group earlier this month in a €2.5bn deal.
It currently holds a 91.77% stake in the Swedish operator, which will increase to 100% in the coming weeks when the remaining Kindred shareholders tender their shares.
The French firm noted that had the merger had been completed by 1 January 2024, it would have led to an estimated combined revenue of €2.8bn by the end of September.
Stéphane Pallez, chairwoman and CEO of FDJ, said: “FDJ continues to deliver a solid financial and non-financial performance, which allows us to confirm our growth and profitability trend for the year as a whole.
“This performance was driven both by the lottery and by sports betting and online gaming open to competition, and by all our distribution channels, with a network of points of sale in progression and strong momentum from digital games.
“The group also reached a major milestone in the implementation of its strategy with the completion of the Kindred acquisition in early October, creating a European champion with a diversified and balanced profile for the benefit of all our stakeholders.”