FDJ Reports Solid Revenue Growth for 2023, Eyes Kindred Acquisition

La Française des Jeux (FDJ) has disclosed a notable 6.5% increase in revenue, reaching €2.62 billion for the fiscal year 2023. The surge in revenue is attributed to the strong performance in its sports betting and online gaming segments. Notably, there was an impressive 18.8% rise in net gaming revenue (NGR), constituting nearly 13% of the group's overall NGR.

FDJ's 2023 financial report follows its bid to acquire the entire outstanding share capital of Kindred Group, valued at SEK27.96 billion. The company's net profit soared by 38% to €425 million, accompanied by a significant increase in recurring operating income, up by 15.8% to €532 million.

FDJ anticipates an 8% revenue growth for the group in 2024, with a recurring EBITDA margin estimated at approximately 24.5%. The company aims for a 5% revenue growth in lottery, sports betting, and online gaming sectors, fueled by upcoming major sporting events such as the Paris Olympics and UEFA European Championships.

FDJ's bid for Kindred is seen as a strategic move to consolidate its position as a leading European gaming operator. Analysts view this acquisition as a significant shift in FDJ's strategy towards becoming a top-tier multi-product operator in the European market. With a strong financial performance and ambitious growth targets, FDJ is poised for further expansion and market dominance in the coming years.