FDJ expects the acquisition of Premier Lotteries Ireland (PLI) to be completed this year, pending regulatory approvals and the backing of the Irish National Lottery.
Takeover talks progressed after a sales process was launched in March, with the deal confirmed alongside FDJ’s H1 revenue figures. The company reported a 6.3% year-on-year increase in revenue, reaching €1.28bn. This growth was primarily driven by a 10.5% increase in sports betting and online gaming revenue, which amounted to €257m.
Lottery revenue showed modest growth of 1% to €958.0m in H1, following an 11% increase in 2022. However, FDJ expects the PLI acquisition to enhance the performance of this vertical.
In 2022, PLI achieved gross gaming revenue of €399m and revenue of €140m, resulting in a comparable earnings margin of over 5%.
FDJ chairwoman and CEO, Stéphane Pallez, expressed excitement over the acquisition, emphasizing that it signifies a significant step in the company’s international development.
Regarding the Irish National Lottery, PLI confirmed that its exclusive operating rights, extended until 2034, will remain unaffected by the takeover. The lottery games will continue as usual, regulated by the appropriate authorities for the benefit of good causes.
In H1, FDJ recorded solid financial results, attributing its revenue growth to increased stakes in its network of 30,000 points of sale, a strong performance in digital stakes, and the integration of new activities. Online stakes saw a 13% year-on-year increase, while point-of-sale stakes increased by 3%. Sports betting benefited from post-FIFA World Cup momentum and a more extensive football calendar.
Financially, FDJ experienced a notable improvement in its financial income, transitioning from a deficit of €22m in H1 2022 to a positive result of €19m in 2023. This improvement can be attributed to rising interest rates and a favorable market environment. The company’s tax expense amounted to €65m, resulting in a consolidated net profit of €181m – a 13.5% year-on-year increase. Furthermore, FDJ’s net cash surplus reached €941m at the end of June, compared to €900m at the end of 2022.
Last year, France’s gambling regulator, l’Autorité Nationale des Jeux, reported a record gross gaming revenue of €12.9bn in the country, with FDJ and Pari-Mutuel Urbain contributing €8.20bn of the total.
