La Francaise des Jeux (FDJ), the well-known French sports betting, lottery and iGaming operator, has announced its financial results for the first quarter of 2024 and the numbers show a significant increase in revenue.

The company’s revenue in the first quarter amounted to 710 million euros, representing an increase of 7.2 percent compared to the same quarter of 2023. Moreover, the company’s gaming revenue went up by 3.1 percent compared to the first quarter of 2023 to a total of 645 million euros.

The French operator was particularly pleased with the performance of its online games segment, which managed to bring in 100 million euros, a figure which represents almost 15 percent of the group’s total revenue.

The company’s target for revenue growth in 2024 is 8 percent, though, so it will have to do better in the following three quarters in order to meet it. However, with the European Football Championships and the Olympic Games coming up this summer, the company’s revenue from sports betting will surely receive a big boost in the second and third quarters.

The operator’s revenue from its lottery operations also registered an increase of 1.4 percent year-on-year during the first quarter, amounting to 504 million euros. Sports betting and competitive online gaming brought in 141 million euros in revenue, recording an increase of 9.5 percent over the first quarter of 2023.

A Good Start

Stéphane Pallez, chairwoman and chief executive of the FDJ Group, described the company’s results in the first quarter as “a good start” for the year, especially because all the group‘s activities registered growth, from the network of 29,000 retailers to the online gaming business.

Moreover, the revenue from sports betting and competitive online gaming registered an increase despite being compared to a quarter which had seen great numbers as an effect of the impact the World Cup in Qatar had on the entire sporting world.

In fact, revenue from the online sports betting division of FDJ, ParionsSport En Ligne, registered an increase of over 25 percent during the first quarter of 2024, well beyond the other segments of the company’s business.

In other news, the management of FDJ confirmed that the company was still keen on acquiring the Kindred Group, a major international conglomerate of sports betting websites and online casinos. The French company submitted an offer worth 2.45 billion euros in January, attempting to form the second largest operator in the European gaming scene.

Source: “FDJ revenue increases 7.2% to €710m in Q1″. iGaming Business. April 18s, 2024.

The post Francaise des Jeux (FDJ) Revenue Surges to €710M in Q1 appeared first on Keno Wizard.

France’s premier lottery and sports betting operator, La Française des Jeux (FDJ), announced that its takeover proposal for Kindred Group has been approved by the Swedish regulator. As a result, the French betting powerhouse will launch its offer on February 20.

According to FDJ, its offer document secured the official approval of the Swedish Financial Supervisory Authority (SFSA), allowing it to proceed with its deal. The French operator also added that its offer, set to be launched tomorrow, will go live for a maximum period of 39 weeks.

The completion of the tender offer would remain subject to additional regulatory approvals and FDJ’s acquisition of at least 90% of Kindred’s issued capital.

In the meantime, Kindred will hold an extraordinary general meeting on March 15. During the meeting, the operator group will discuss whether to amend the Articles of Association to allow for the implementation of a squeeze-out procedure in case FDJ acquires 90% or more of Kindred’s capital.

The Deal Would Close in November

FDJ’s offer is available in English and French on its official website and confirms many of the previously announced aspects of the deal. According to the announcement, FDJ will pay SEK 130 per share to acquire Kindred’s business.

Under the terms published by FDJ, the deal would close on November 28.

FDJ’s board of directors has already greenlit the move, while Kindred’s board advised shareholders to approve the deal.  

As the merger looms, Capital Research and Management Company, a subsidiary of The Capital Group Companies, reduced its shares in Kindred Group. This came amid a spike in Kindred Group’s share price.

In other news, FDJ recently published its FY 2023 results, reporting solid growth and robust results. The company’s revenues hit $2.82 million, marking a YOY increase of 6.5%. EBITDA, on the other hand, stood at $705.9 million, representing an increase of 11.3% and a margin of 25.1%.

The post FDJ to Officially Launch Public Tender Offer for Kindred appeared first on Keno Wizard.

Capital Research and Management Company, a subsidiary of The Capital Group Companies, Inc., reduced its shares in Kindred Group. On Wednesday, Kindred confirmed that it received notification about the reduced number of shares and voting rights by Capital Research and Management Company.

Per the notification, as of January 22, 2024, Capital Research and Management Company now holds 8.63% of shares and voting rights in Kindred. This strategic move comes at a time when La Française des Jeux (FDJ) announced a $2.5 billion bid to acquire Kindred recently. With the proposed strategic bid, FDJ seeks to propel its global presence, after it already has established strong footprint across Europe.

Considering FDJ’s announcement, Kindred’s shares skyrocketed recently. As of January 22, 2024, the company’s shares were up 17% on the Stockholm Nasdaq.

Throughout the years, Capital Research and Management Company’s stake in Kindred varied. An all-time high share and voting rights in Kindred, some 15.33%, were held by the company back in October 2021. More recently, Capital Research and Management Company reduced its stake in July 2022 to 10.86%.

“Kindred Group plc hereby announces that it, on 23 January 2024, has received a notification of major holdings from The Capital Group Companies, Inc., a company with its registered office in Los Angeles, USA. The notification relates to a reduced number of shares and voting rights in Kindred by Capital Research and Management Company, a subsidiary within The Capital Group Companies, Inc. which holds the relevant position in Kindred Group,“

reads a statement released by Kindred Group

Preliminary Q4 Results Point To Growth in EBITDA and Revenue

Amid the announced takeover bid from FDJ, Kindred released its preliminary Q4 2024 results, pointing to an increase in revenue and uptick in EBITDA. In total, Kindred’s revenue for the fourth quarter hit £312.9 million ($398 million), a result that marked an increase of 2% year-over-year.

On the other hand, underlying EBITDA for the period grew as well, hitting £56.8 million ($72.2 million). In contrast, for the fourth quarter in 2022, underlying EBITDA halted at £39.1 million ($49.7 million).

The post Amid FDJ Takeover Bid, Capital Research Reduces Shares in Kindred appeared first on Keno Wizard.

La Française des Jeux (FDJ) has completed its acquisition of Premier Lotteries Ireland (PLI). Valued at over $400 million, the deal will expand FDJ’s presence in Europe and turn it into a major international company.

The deal was originally announced this summer when FDJ unveiled its plans to acquire PLI’s entire share capital.

PLI is the exclusive operator of Ireland’s National Lottery. The gambling company is set to operate the lottery for at least the next eleven years, with its current deal set to expire in 2034. For reference, the operator acquired the 20-year National Lottery license in 2014.

PLI also recorded a GGR of $427.6 million (current conversion rates) in 2022, donating approximately $279 million to over 4,000 deserving causes. FDJ, on the other hand, recently posted its latest report, highlighting Q3 revenue of $620.5 million and year-to-date revenue of $1.99 billion.

PLI Is Looking Forward to Enhancing the Irish National Lottery

FDJ’s chair & chief executive officer, Stéphane Pallez, commented on the agreement, saying that it marks an exciting new chapter for the French company, allowing it to step into the international spotlight. FDJ is ambitious to become an international powerhouse and cement its position as a leading gambling and lottery company.

According to Pallez, FDJ and Premier Lotteries Ireland share the same vision as they both want to provide players with recreational and responsible gaming offer to players in Ireland.

PLI’s chief executive officer, Andrew Algeo, also shared his thoughts, saying that this deal is a monumental moment for his company. He believes that the current acquisition will prove beneficial to both companies and the Irish lottery sector.

Algeo thanked PLI’s shareholders whose support has allowed the company to flourish and grow steadily and sustainably. He said that he is looking forward with FDJ on creating an Irish National Lottery that is better than it has ever been.

Speaking of M&A activity, FDJ recently confirmed the finalization of its acquisition of the leading online horse racing and sports betting operator, ZEturf Group. The acquisition of a horse racing company also highlights FDJ’s desire to diversify its product offering and revenue streams.

The post FDJ Completes PLI Acquisition, Expands International Presence appeared first on Keno Wizard.

Française des Jeux (FDJ), the leading Frech lottery operator, released its latest trading update Thursday, revealing insights regarding its performance for the third quarter and first nine months of the year. Overall, the reported revenue for the third quarter of this year halted at €586 million ($620.5 million). This result, when compared to the corresponding period in 2022, represented a decrease of 1%.

On the other hand, group revenue for the first nine months of the year through the end of September soared to €1.88 billion ($1.99 billion). This result, when compared to the reported revenue for the first nine months of 2022 marked a growth of 3.9%.

According to the recent report, lottery revenue hit €1.41 billion ($1.49 billion) for the first nine months of the year. This result marked a year-over-year decrease of 1.2%. However, FDJ explained that excluding Euromillions and Amigo shows revenue growth of 3%.

The revenue reported by online gaming and sports betting increased exponentially, hitting €360 million ($381.2 million), a result that represented 9.3% growth. The company said that this increase is “in line with growth in stakes.” While the online segment was impacted positively by the gained momentum for the FIFA World Cup near the end of last year, the pace slowed down during the third quarter of this year.

The Company Anticipates Further Growth

Stéphane Pallez, FDJ’s CEO and chairwoman, praised the latest results, explaining that the company enjoys growth, pushed by strong demand from its growing customer base. She spoke about the strategic acquisition of ZEturf, dating back to September, as well as the upcoming closing of the acquisition of Premier Lotteries Ireland planned for November. Finally, Pallez said: “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.”

“Our growth remains solid, with strong players’ demand, even though it has been affected by the low number of Euromillions high jackpot draws.“

Stéphane Pallez, chairwoman and CEO of FDJ Group

The strategic takeover of ZEturf along with its horse betting business enabled FDJ to strengthen its position in the sports betting and online gaming market in France. As a result, the company became the fourth largest operator in the country with a market share of more than 10%.

FDJ’s latest report uncovered details regarding its expectations throughout 2023. The company confirmed that it anticipates seeing revenue growth of some 5% or between 1.5% and 2% on a like-for-like basis. In Q4, FDJ anticipates seeing growth in lottery sales, as well as strong performance within the online gaming and sports betting vertical.

The post FDJ Reports 4% Revenue Growth for First Nine Months of 2023 appeared first on Keno Wizard.

French lottery operator Française des Jeux (FDJ) has made a significant move in the international gaming market with its agreement to acquire Premier Lotteries Ireland (PLI), the operator of the Irish National Lottery. The acquisition marks a strategic expansion for FDJ into the Irish gaming landscape, solidifying its position as a key player in the global lottery industry.

The Acquisition Will Elevate the Irish Lottery Experience

For FDJ, the acquisition presents an opportunity to leverage its expertise and experience in lottery operations, bringing a fresh approach and innovation to the Irish market. With a reputation as one of Europe’s leading lottery operators, the company is well-equipped to enhance the Irish National Lottery’s offerings and deliver an exceptional gaming experience to its customers.

Current Irish Lottery operator PLI recorded a GGR of €399 million in 2022, donating nearly €260 million to over 4,000 deserving causes. The new owner’s extensive experience will be instrumental in maintaining the organization’s community-focused approach and ensuring enduring relevance. FDJ chair and CEO Stéphane Pallez noted that the two companies shared a common vision, significantly aiding future integration.

FDJ… remains faithful to its recreational, responsible, and redistributive gaming model. We look forward to working together.

Stéphane Pallez, FDJ chair and CEO

The acquisition agreement will see FDJ acquire all of PLI’s assets, taking over its license to operate the Irish National Lottery until 2034. The French company has a history of success, posting impressive FY22 Results and demonstrating its capability to create balanced value in the medium term while remaining socially responsible. PLI’s acquisition should complete in H2 2023 after regulatory approval.

FDJ Acquires a Well-Established and Successful Business

The Irish National Lottery, established in 1987, has been a prominent fixture in the country’s gaming market, offering a diverse range of games and contributing to charitable causes through its funding allocation. PLI secured its 20-year operational license in 2014, rapidly modernizing the lottery to stay in touch with technological developments.

PLI has over 200 employees across 5,300 retail points and operates roughly 45 draw and instant win games. The operator’s success recently drew the attention of the Czech operator, but FDJ acted swiftly and secured the deal. Integrating such an expansive business will present short-term challenges for the French company but promises significant long-term returns.

With FDJ’s enduring commitment to innovation and responsible gaming practices, the Irish National Lottery is poised for continued growth and success, maintaining its contributions to the welfare of communities and players. The gaming industry will watch with anticipation to witness the positive impact of this strategic partnership, which promises to elevate the Irish Lottery’s offerings and solidify FDJ’s global leadership position.

The post FDJ Moves In to Acquire Irish National Lottery Operator PLI appeared first on Keno Wizard.

The globally-recognized technology company delivering solutions and services powering sports betting, casino, poker and other operators within the gambling vertical, Playtech, announced Monday it joined forces with the leading gaming operator in France, La Française des Jeux (FDJ). Thanks to the freshly minted partnership, FDJ will benefit from Playtech’s poker network, including content and services.

The new collaboration sees FDJ join Playtech’s extensive iPoker.EU Network. This is in fact one of the biggest liquidity pool networks on the Old Continent that is supported by leading software that ensures compliance within different jurisdictions.

Per the new deal, FDJ will access not only the content package from Playtech but its services as well. As a result, the leading operator will gain access to poker tournaments, cash tables, as well as Twister Poker, Playtech’s flagship poker game.

At the same time, the collaboration complements Playtech’s growth within the poker vertical in the French Market. The country’s poker market continues to grow annually and has generated €10.7 billion in 2021, marking a year-over-year increase of 7%.

The deal with FDJ comes during a busy period of Playtech. Early last month, the company revealed that it joined forces with 10bet, a famous online gambling brand. At the time of the announcement, the company revealed that its UK and Sweden-facing businesses will benefit from sports betting solutions.

The Operator Is Delighted to Access Playtech’s Content

Richard Courtois, FDJ’s CEO of sports betting and online gaming, acknowledged Playtech’s strong presence as a content provider within the regulated gambling sector around Europe. At the same time, he spoke about the company’s understanding of the market in France and pointed out that the collaboration will help expand FDJ’s offering by delivering new games. Finally, Courtois predicted that the partnership will boost the company’s presence in the country.

“Thanks to Playtech, we are pleased to offer our players a new range of games. This move enables FDJ to complete its presence in the French online gaming market open to competition, based on a business model that combines performance and responsibility to keep gaming fun.“

Richard Courtois, CEO of sports betting and online gaming at FDJ

Marat Koss, Playtech’s VP of interactive gaming, shared his excitement about the latest deal. “We are very proud that FDJ has chosen Playtech as its partner, he said. Additionally, Koss pointed out that the leading operator will benefit from Playtech’s extensive network and deliver unique experiences for its growing customer base. Finally, he said that Playtech is looking forward to the success the deal with FDJ will bring.

The post FDJ to Benefit from Playtech’s Poker Network and Services appeared first on Keno Wizard.

The French operator joins other businesses in promoting Pride Month, demonstrating the company’s support for the community. FDJ’s efforts in fostering acceptance and understanding should highlight the company’s adherence to modern values and bolster its popularity through positive exposure. Guaranteeing a safe and inclusive workplace is vital in safeguarding employee well-being and should positively impact the company’s workflow.

FDJ Is Well-Known for Its Positive Impact Initiatives

La Française des Jeux (FDJ) is a preeminent French gambling and lottery operator, boasting a substantial reach and sway among the country’s gaming community. The partnership with leading French LGBT+ advocacy organization L’Autre Cercle aligns with the company’s progressive ideals as it joins other businesses worldwide in celebrating Pride Month.

FDJ expressed its intention to join L’Autre Cercle’s efforts to ensure businesses strengthen their diversity policies, allowing equal opportunities for disprivileged individuals. Chairwoman and CEO Stéphane Pallez reaffirmed the operator’s enduring support for such initiatives, vowing to promote awareness across all company levels. She lauded L’Autre Cercle’s efforts to respect and acceptance inside the workplace and out.

Signing the LGBT+ Commitment Charter, supported by L’Autre Cercle, illustrates our desire to go even further in the group’s commitment to the inclusion of all diversities.

Stéphane Pallez, FDJ chairwoman and CEO

The operator’s commitment to LGBT+ rights reflects its people-orientated stance. FDJ is a prime supporter of safe gambling, regularly investing in promotional campaigns to mitigate the negative social impact associated with the industry. The company hopes its efforts to support worthy causes will positively affect French society, helping suppress problems and underage gambling.

Inclusive Policies and Practices Remain Vital

FDJ recognizes that embracing diversity contributes to a more vibrant and dynamic work environment, enhancing creativity, innovation, and overall business success. To that end, the operator will ensure employees have access to a platform for open dialogue, education, and support, creating an environment where everyone can feel safe and empowered to be their authentic selves.

L’Autre Cercle employers’ division co-head Catherine Tripon lauded FDJ’s continued efforts and support, expressing hope that other high-profile businesses signing the organization’s charter would bring all parties involved long-term benefits. Tripon noted that employee well-being remained at the initiative’s core, hoping the movement would bring meaningful change.

The world of work must be a safe environment. It is essential that employees feel good there in order to avoid the risk of unequal treatment.

Catherine Tripon, L’Autre Cercle employers’ division co-head

The collaboration between FDJ and L’Autre Cercle extends beyond the workplace, aiming to drive broader social change and promote acceptance of the LGBT+ community. By leveraging their influence and resources, both organizations can contribute to dismantling stereotypes, challenging biases, and fostering a more inclusive and equitable society.

The post FDJ Joins Forces with LGBT+ Group L’Autre Cercle to Promote Workplace Inclusion appeared first on Keno Wizard.