Gaming operator La Française des Jeux (FDJ), which now includes Kindred Group, says group revenue to the end of Q3 rose 11.9 per cent year-on-year.
Gaming revenue in France rose eight per cent to €1.9bn, with lottery revenue up seven per cent and sports betting revenue up 13 per cent.
The overall revenue rise to €2.1bn from €1.88bn has shifted FDJ’s guidance for 2024 upwards.
The company now expects revenue growth of nearly nine per cent, and above five per cent for gaming activities in France. A recurring EBITDA margin of around 25 per cent is also expected.
Initial targets were overall revenue growth of eight per cent, French revenue growth of five per cent and a margin of 24.5 per cent.
FDJ Group chairwoman and CEO, Stéphane Pallez, 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.”
FDJ’s Q3 revenue totalled €669m, up 14.2 per cent year-on-year.
FDJ says that had Kindred been part of its portfolio on January 1, 2023, it would have recorded combined revenue of €3.5bn and combined recurring EBITDA of around €840m for FY23.
In the same way, FDJ forecasts that nine-month revenue for 2024 would have been €2.8bn – up from the €2.1bn posted on Thursday – had Kindred been acquired on January 1 this year.
