La Française des Jeux (FDJ) has announced its financial results for the first half of 2024, with a turnover of 1.43 billion euros ($1.5 billion), an increase of 10.8% year-over-year.
FDJ's gaming operations in France generated a turnover of 1.3 billion euros, up by 7%. The lottery business made a significant contribution to this growth, reaching a turnover of 1 billion euros, up by 5%, thanks to the strong performance of instant and draw-based games.
Driven by sports events, the revenue from sports betting and competitive online games increased by 14.5%, reaching 294 million euros.
Digital activities showed significant growth, with turnover increasing by 39.8% to 201 million euros, mainly due to the acquisitions of PLI and ZEturf. This growth raised the share of digital activities to 15% of the total turnover. Sales at points of sale also grew by 8%, with a 3% increase within France.
FDJ's current EBITDA for the first half of 2024 was 370 million euros, a 23.5% increase, with a profit margin of 25.9%. Adjusted net income was 235 million euros, up by 28%. FDJ reiterated its 2024 objectives, targeting an 8% total turnover growth and a 5% increase in French gambling activities.
The lottery turnover grew by 5% to 1 billion euros, helped by the successful games like Ticket d'Or and Maxi Black Jack. Draw games also performed well, with EuroDreams and Euromillions attracting significant attention.
Despite betting for the UEFA European Championship being lower than expected, the turnover for sports betting and online games still rose by 14.5% to 294 million euros. Online activities grew by 28.3% on a comparable basis, boosted by the popularity of ParionsSport and poker.
The turnover from international business and payment services rose to 129 million euros, a 72% increase, mainly due to the integration of PLI.
Currently, a public takeover offer for Kindred is underway, pending approval from the French Competition Authority. This acquisition is expected to enhance FDJ’s international and online gaming capabilities.
FDJ’s performance for the first quarter of 2024 showed a 7% increase in total revenue to 710 million euros, with significant growth in gaming and other activities.
