La Française des Jeux or FDJ raised its annual sales growth forecast recently. This follows a rise in revenues in the third quarter and boosted by the integration of Kindred.
The gaming specialist now expects sales growth of close to 9%. This increases from the previous forecast of 8%. The current EBITDA margin is around 25%, up from the last forecast of 24.5%.
At the beginning of 2024, FDJ launched a takeover bid for all the shares of online gaming group Kindred. The total consideration was nearly 2.5 billion euros.
The Group’s third-quarter sales reached €669 million for the three months ending in September. This reflects a 6.6% year-on-year increase on a like-for-like basis.
Kindred reported total group revenue of £294.5 million (or €252.2 million, or $382.3 million) in the third quarter across all markets and verticals. This marks a 3.7% increase from the £283.9 million recorded in the same period of 2023.
Yet revenues fell short of the £327.6 million generated in second quarter on a quarter-by-quarter basis. However, the start of the Euros boosted these figures.
Kindred’s share of gross winnings revenue from locally regulated markets also remained stable at 83% in the third quarter. It first reached that record share in the third quarter of the previous year.
Even though Kindred didn’t disclose its Q3 EBITDA, it did say it remained on course to meet its full-year 2024 guidance of £250 million.
Kindred will report its final figures for the third quarter on October 25.
Last October 17, FDJ or La Française des Jeux will disclose combined group revenue with Kindred after FDJ completed its €2.45 billion acquisition of the company in early October.
The release of FDJ or La Française des Jeux will estimate the combined revenue of the group based on which parts of the business it will retain.
