FDJ: good start to year, but stock down
(CercleFinance.com) - Last night La Française des Jeux (FDJ) announced that is had seen strong growth in all its businesses from the beginning of 2022, with lottery and sports betting in the lead, a phenomenon that was evident in all its sales channels.
FDJ recorded a 14% increase in Q1 sales to 613 million euros, based on a 10.2% increase in bets to 5.06 billion euros.
In a statement, the French gambling leader recalled that measures taken by the French authorities to curb the Covid-19 epidemic had affected its point-of-sale business in Q1 2021, with nearly 10% of its network closed, mainly bars.
In detail, lottery revenues rose by 14% over the past quarter, in particular boosted by instant games bets, which climbed 19%, thanks to launches or relaunches such as "Baraka", "Cash" or "3 in 1".
Meanwhile, its sports betting revenues increased 13.4%.
The group believes that this good start to the year confirms that it will achieve its targets for 2022, both in terms of business growth and margins.
However, following this publication, FDJ shares were down 4% on the Paris stock exchange at lunchtime on Friday.
Copyright (c) 2022 CercleFinance.com. All rights reserved.