Saturday, October 1, 2022

FDJ reports 14 revenue growth for Q1 2022

La Francaise des Jeux (FDJ) has published its first quarter 2022 financial results, recording €613m ($662m) in revenue.

For Q1 of the current year, FDJ saw its revenue increase by 14% on a quarter-over-quarter basis, with stakes rising by more than 10% to over €5bn.

However, the group acknowledged that measures taken to curb the spread of Covid-19 in the first quarter of 2021 leads to a more favourable comparison. During the prior-year period, nearly 10% of FDJ’s network was closed, primarily bars, though this was partially offset by digital growth.

But since then, restrictions have been eased, contributing to the group’s healthy growth for Q1 2022.

Despite what FDJ called “a near absence of a long cycle for draw games,” point-of-sale stakes increased by 11.5% to €4.5bn.

The group attributed this to marketing and sales initiatives, as well as return to a more normal operating environment. Online stakes also increased, though by a considerably more modest 1%. All-in-all, these amounted to €575m.

Lottery revenue, meanwhile, amounted to €467m, up 14%, while sports betting revenue came to €129m for a 13.4% increase.

FDJ was also awarded the A1+ Sustainability Rating by Moody’s ESG Solutions for the fourth consecutive year.

“The start of the year was marked by strong growth in all our business lines, across all sales channels,” said Stéphane Pallez, FDJ’s Chairwoman and CEO.

“The strong growth in lottery and sports betting revenue was driven by our network of 30,000 retail outlets and solid online activity.”

She added: “This good financial and extra-financial performance underpins our strategy of sustainable and profitable growth, and our outlook for 2022.”

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