FL Entertainment stated that growth within its online gambling and sports betting division has helped push revenue in 2023 up to 6.7%. Meanwhile, the group also posted an increased net profit for the year.
Revenue reached €4.23 billion or £3.69 billion or $4.73 billion. This was only for 12 months to December 31, 2023. FL Entertainment reported in 2023 that this was up from the €4.05 billion on a reported and pro forma basis.
In the past year, FL Entertainment reported growth in all areas across its two core divisions which are the online gaming and sports, and content production and distribution. The latter was where the group reported the most growth. It includes Betclic Everest Group. This owns both German-facing Bet0athome.com and Betclic.
There was also self-effacing revenue growth in the content production and distribution segment. FL Entertainment attributed this to several new acquisitions made during the year.
CEO François Riahi hailed this growth. He said that it sets the group up for further success in 2024 and beyond.
Riahi stated that they delivered record results in 2023, powered by continued strong performance of both businesses. Since they listed two years ago, they have increased their revenue by 30% and their adjusted EBITDA by 26%, illustrating the strength of their business model.
He also added that during this time, their revenues with OTT players in content production have increased by 75%. They have also expanded their activities into the live experiences space through M&A, which will contribute to growth moving forward.
Online gaming and sports betting drew €996.2 million in revenue breaking down the previous year’s figures. This was ahead by 19.3% of €835.0 million in 2023, despite 2022’s results including the FIFA World Cup.
FL Entertainment asserted that ongoing strong momentum from unique active players, good retention from the World Cup, and commercial development underpinned this. It’s also worth noting that all segments recorded double-digit growth in the last year.
