FDJ posts 8% Q1 2023 revenue rise as lottery continues to deliver
Operator also sees online stakes continue strong momentum after rising by 21% to €698m
Française des Jeux (FDJ) has posted an 8% year-on-year (YoY) rise in Q1 2023 revenue as its lottery channel reported strong growth.
The French lottery operator recorded Q1 2023 revenue of €662m (£583.49m), up from the €613m posted in Q1 2022.
On a pro-forma basis for 2022, which includes revenue from FDJ’s recently acquired point of sales (POS) segment Aleda and payment provider L’Addition, the revenue for the quarter was up 5.3% YoY.
Of the total revenue, the lottery segment represented €497m, up 6.4% from Q1 2022, when the vertical returned €466.7m.
Sports betting revenue reached €129m, a slight increase in Q1 2021, increasing by 0.2%.
Point of sales stakes hit €4.79bn, which is a 6.9% YoY rise.
Overall, a total of €5.49bn was wagered with FDJ in Q1 2023, which is a rise of 8.6%. Digital stakes made up €698m of the total.
Stéphane Pallez, FDJ CEO, said: “The first quarter of 2023 was marked by the continued good financial and extra-financial performance of the FDJ Group. Our revenue is up more than 5% [on a pro forma basis], driven by both our network of 30,000 points of sale and a good dynamic in our digital business.
“We are also very proud to have maintained an excellent sustainability rating by Moody’s ESG Solutions, which places us, for the fifth year in a row, as number one in our industry. Finally, the decision of the French Council of State validates the privatisation procedure and strengthens FDJ’s monopoly, in compliance with European law,” she added.
Alongside its results, FDJ announced the decision taken by the French Council of State on 14 April 2023 on the case relating to FDJ’s monopoly position in the market.
It ruled that FDJ’s monopoly did comply with EU law. The court also ruled that the 25-year duration of its monopoly rights defined in the PACTE law is not excessive.