FDJ reports 6.5% increase in revenue for FY, confirms Kindred acquisition bid

Last updated: January 22, 2024 11:25 am

1 Min Read

FDJ has submitted a €2.45bn offer to acquire Kindred Group, aiming to create a European gaming powerhouse. Kindred’s revenue for 2023 was £1.21bn, while FDJ’s revenue reached €2.62bn, with online gaming revenue growing by 18.8%.

FDJ saw a growth in recurring EBITDA in 2023, reaching €657m with a margin of 25.1%. Following acquisitions of ZEturf and Premier Lotteries Ireland, FDJ had a net cash surplus of €671m at the end of December.

Revenue for Q4 increased by 13.8% to €747m, with lottery revenue growing by 7.8% and competitive sports and online gaming revenue rising by 14.9%. Kindred has recommended its shareholders accept FDJ’s offer, aligning with FDJ’s strategic vision.

Share This Article

By Dawson Bennett

Follow:

Dawson Bennett is a seasoned journalist with over a decade of experience covering the casino and sports industries. His extensive knowledge of these sectors makes him a trusted expert for readers seeking advice and insights. Whether you're looking for the latest developments in the sports or gambling world, Dawson provides valuable guidance to help you make informed decisions. He offers tips on selecting high-quality casinos and stays on top of trends and events in the sports industry, ensuring you have the best possible experience.