FDJ enjoys first quarter growth of 30 per cent
FDJ United, one of Europe’s leading betting and gaming operators, announced sales revenue for the first quarter of 2025 of €925m, up 30 per cent year-on-year, driven by the good performance of the French lottery and retail sports betting.
The increase in lottery revenue, up five per cent to €528m, was driven by Draw games, with Euromillions performing very well, particularly when the super-jackpot was launched on 7 March at €130m and won at €250m on 28 March, after 7 draws.
Online lottery revenue rose markedly by 14 per cent to €79m, driven by a sharp increase in the number of players to 5.8m over the 12 months to end of March 2025. Online now accounts for 15 per cent of lottery games revenue.
Point-of-sale sports betting was buoyant. The increase in stakes was driven in particular by the more extensive range of football bets on offer, with the new format of European competitions and greater appeal thanks to the success of French clubs in these competitions. However, compared with the 1st quarter of 2024, the reduced margin linked to unfavourable results for the operator led to a one per cent fall in revenue to €112m.
Point-of-sale revenue for the BU totalled €561m, up two per cent on the basis of a five per cent increase in stakes.
Online betting and gaming revenue of €231m was down ten per cent at constant perimeter and exchange rates. The number of active players in the Online betting and gaming BU increased in the 1st quarter 2025 by more than five per cent compared with the 4th quarter 2024 and by almost 10 per cent compared with the 1st quarter 2024.
However, the tougher implementation of regulations in the Netherlands and the United Kingdom, and the sharp increase in taxation in the Netherlands, already announced by the Group, had a significant impact on the BU’s performance.
In the Netherlands, despite strong growth in the number of active players, a number of factors explain the 41 per cent drop in revenue with new regulation that has severely limited net monthly deposits since October 2024. There has been a significant increase in gaming taxation from 1 January 2025, from 30.5 per cent to 34.2 per cent of gross gaming revenue.
In parallel with the introduction of these measures, which have a significant impact on the business and profitability of licensed operators, the channelling rate in the Netherlands (the share of the gambling market accounted for by licensed operators) had reduced significantly, to less than 50% by 2024.
In the United Kingdom, the 27 per cent decline in revenue reflects a particularly high comparison base and the unfavourable impact of the regulatory measures implemented in 2024, despite the increase in the number of active players.
Revenue excluding the Netherlands and the United Kingdom was up by almost eight per cent, thanks to good performance in other markets, including France, driven in particular by the new format of European football competitions.
Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ UNITED, said: “FDJ UNITED’s performance in the first quarter is in line with the trajectory planned for 2025. Against the backdrop of tougher regulation and taxation in some of its markets, it reflects good momentum in points of sale and an increase in the number of online active players in all its markets. Beyond this, the Group is fully committed to the transformation associated with the implementation of its international and digital strategy. “
