FDJ or La Française des Jeux has reported a year-on-year revenue increase of 7.2% during the first quarter. It reaches €710 million or £607.8 million or $758.1 million for Q1.
Gaming revenue of FDJ for the first quarter was €645 million, up 3.1% on the same quarter in 2023. FDJ praised its strong momentum in online games. It has revenues of €100 million. This makes up close to 15% of the total gaming revenue of the group.
FDJ recently sated it was targeting 8% revenue growth over this year. While it has so far fallen just short of that, the upcoming sports schedule. This includes European Championships and Olympic Games in Paris. It may provide a boost to its hopes of reaching that 8% growth objective.
Lottery revenue saw a 1.4% increase during the first quarter. It reaches €504 million from the €497 million reported in the same quarter in 2023. Sports betting and competitive online gaming revenue recorded in €141 million in revenue, as well as up 9.5% on the first quarter last year.
For now, revenue for other activities like payment and services stood at €65 million, 77.4% up on the €37 million reported in last first quarter.
Stéphane Pallez, the chairwoman and chief executive of the FDJ Group said that FDJ has made a good start to the year, in line with its 2024 objectives.
She added that all their activities are growing, thanks to their network of over 29,000 retailers and a dynamic online gaming business, which now accounts for 15% of the group’s gaming revenue.
FDJ stated that the lottery revenue rising at 1.4% was largely down to growth of over 4$ in instant games. Nonetheless, draw games revenue was down by 3%.
It was also noted by FDJ that revenue from sports betting and online gaming open to competition was up in spite the challenging comparison from the same quarter in 2023, which had benefitted from lasting impacts of the World Cup in Qatar. This finished in December 2022.