French gaming operator La Française des Jeux (FDJ) has released its first quarter results for the period ending March 2023. The company announced 5% growth including the acquisitions of Aleda and L’Addition over the year .
First quarter revenue reached €662 million, up from €613 million. On a pro forma basis, due to the acquisitions, FDJ also saw a 7% increase in point-of-sale shares to €4.8 billion and a 21.3% growth in online shares to nearly $700 millions.
The report cites that online betting was boosted by the FDJ’s lottery and sports betting offerings. Lottery revenue also rose 6% to €497m, which the company said was due to instant play and sweepstakes. Lotto and EuroMillions performances were attributed to bets related to high jackpots.
The FDJ has cited the World Cup as a positive influence on its sports betting in 2022, with Q1 2023 results experiencing “stabilization” in revenue, generating €129m.
Stéphane Pallez, President and CEO of Grupo FDJ, said: “The first quarter of 2023 was marked by continued good financial and extra-financial performance. Our revenue increased by more than 5%, driven both by our network of 30,000 points of sale and a good in our digital business”.
“We are also very proud to have maintained an excellent sustainability rating from Moody’s ESG Solutions, which places us number one in our industry for the fifth consecutive year. Finally, the decision of the French Council of State validates the privatization process and reinforces the company’s monopoly, in accordance with European law.”
FDJ goals for 2023
The FDJ also confirmed its targets for 2023, reinforcing that it is targeting revenue growth of between 4-5%, an increase in online shares of 20% and a recurring EBITDA margin of around 24%.
