France’s leading lottery and betting operator, La Française des Jeux (FDJ), released its latest financial update, highlighting strong growth of revenue and recurring EBITDA for 2023. The report, released Wednesday, reveals the company reported €2.62 billion ($2.82 billion) in revenue, a result that marked a year-over-year increase of 6.5%.
A breakdown provided by FDJ confirmed that recurring EBITDA for 2023 hit €657 million ($705.9 million). On a year-over-year comparison, this result showed an increase of 11.3%, representing a margin of 25.1%. The company’s net profit for last year hit €425 million ($456.6 million) a result that “benefited from the high level of recurring EBITDA and the very sharp change in financial profit,” according to FDJ.
Additional details released by FDJ reveal that the company reported strong growth in its lottery operations, marking an increase of 4.9% year-over-year. Similarly, the results from the company’s online gaming and sports betting vertical were up 10.9% for 2023.
Stéphane Pallez, FDJ’s chairwoman and CEO, shared her excitement about the latest results. She explained that the company posted exceptional results and growth throughout 2023. Pallez highlighted the importance of the company’s acquisition of ZEturf and Premier Lotteries Ireland. She also spoke about FDJ’s successful growth strategy. Finally, Pallez said: “The proposed acquisition of Kindred, announced at the end of January, will enable the creation of a European champion and significant value creation for the benefit of all stakeholders, in line with our model combining performance and responsibility.”
“FDJ delivered solid growth and results this year.“
Stéphane Pallez CEO and chairwoman at FDJ Group
The Company Remains Dedicated to Growth and Expansion
As Pallez mentioned, FDJ recently disclosed details regarding a bid to acquire the leading gaming and entertainment company, Kindred Group. The blockbuster $2.5 billion proposal was announced back in January. Ultimately, the major takeover seeks to further expand FDJ’s international footprint. The company identified that Kindred would be the best operator to help it achieve this goal, considering its presence in more than 100 countries across the globe with its Unibet and Highroller brands.
FDJ’s latest financial update highlighted other important achievements during 2023. The company confirmed it contributed €4.3 billion ($4.62 billion) to public finances and helped maintain some 56,000 jobs in France, while creating new workplaces as well. Overall, the company paid €983 million ($1.06 billion) to retailers for 2023.