Sports and iGaming Push Revenues of France’s National Lottery

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Française des Jeux (FDJ), the operator of the French national lottery, has seen its revenue increase 3.9% to €1.88 billion over the first nine months of 2023 due to growth in its sports betting and iGaming business.

The main source of revenue remains the lottery, with it generating €1.41 billion over the first three quarters of the year. However, this is still a fall of 1.2% when compared to 2022 and draw stakes also fell 6.0%.

The operator has said that this was partially due to there having been fewer high-value EuroMillions jackpot draws than in the previous year. The FDJ also said that the relaunch of the Amigo draw game in June hit revenue.

When looking at revenue excluding EuroMillions and Amigo, it was up 3%, draw stakes was up 1% and lottery stakes 3%.

Related: French Gambling Market Sees 4% Gain in H1 2023

Significant Rise in Sports Betting and iGaming Revenue

FDJ saw its sports betting and iGaming revenue climb by 9.3% to €360 million. The company also received an additional €103 million in revenue from undisclosed activities, an increase of 10% year-on-year.

The business’s gross gaming revenue was €4.81 billion and the company paid €3.04 billion in public levies over the nine months. FDJ has said that it hopes for revenue growth of roughly 5% for the full year and that it expects the current EBITDA margin rate of 24% to remain.

Finalization of Two Major Acquisitions

The first three quarters of 2023 saw FDJ finalize two significant acquisitions, the online horse racing betting site ZEturf Group and Premier Lotteries Ireland (PLI), which operates the Irish National Lottery.

The PLI acquisition is expected to be completed next month. FDJ is to pay €350 million for PLI, and the ZEturf deal is valued at €175 million. The acquisition of PLI enables FDJ to enter the international B2C lottery market. The company will be consolidated by FDJ with the hope that it will help PLI grow and become more profitable.

ZEturf is France’s second-biggest online horse betting operator. It has a market share of roughly 20% and FDJ says the acquisition makes it the country’s fourth-biggest online gaming operator. In 2022, ZEturf saw revenue of more than €50 million and FDJ believes that adding ZEturf to its business will double its iGaming revenue.

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