FDJ United delivers mixed H1 lotto results
French gambling firm FDJ United has reported domestic lottery revenues north of €1bn in H1 thanks to a solid performance across digital channels.
The firm’s financial report for the first half of 2025 showed FDJ Lottery revenue in France going up by 6% YoY to reach €1.06bn, with digital distribution bringing an additional 16% growth to €160m.
However, positive home market performance was offset by revenue declines reported by FDJ International Lottery, which includes Premier Lotteries Ireland (PLI). The whole division saw H1 revenues fall down 16.9% YoY to €80m.
Corporate management partially attributed this drop to high jackpot payouts in Ireland during Q1, as well as the disposal of Sporting Group at the end of 2024.
Regardless, International Lottery EBITDA came in at €15m, which is a significant increase from the €8m in H1 2024 as a result of improved operational efficiency.
Elsewhere, point-of-sale sports betting revenue across the French group was down 6% to €225m, driven by a mix of higher value football stakes (up 4%) and a higher-than-average rate of winning bets.
Online Betting and Gaming showed a 11.5% drop in H1 revenues (€466m) compared to the same period last year (€526m). The segment was first introduced late in 2024 after FDJ completed the acquisition of Kindred Group, operator of the Unibet and 32red brands.
Failure to stabilise growth since then has underpinned the regulatory headwinds Kindred is facing across core European jurisdictions. For one, ongoing regulatory reforms in the Netherlands introduced 34% GGR levy and lower player net deposit caps.
H1 recurring EBITDA for Online Betting and Gaming was €95m, with margin down to 20.3% when compared to 28.4% in H1 2024. Marketing costs for the unit were cut by 7.5%.
FDJ United maintains a future outlook of a recurring EBITDA margin over 24%, stable pro forma revenue targets, and a reduction in net financial debt of a minimum of €150mn, coupled with return to business-friendly sports results.
https://lotterydaily.com/2025/07/31/region/europe/fdj-united-h1-results/