FDJ's revenue up 7% for year's first nine months

La Française des Jeux (FDJ) saw its revenue rise 7% year-on-year to €1.4bn ($1.5bn) during the first nine months of the year.

The operator said this growth was driven by a rise in stakes across all of its areas of operation.

Gross gaming revenue amounted to €4bn, a 7% increase.

Lottery remains the top taker for FDJ; stakes rose 6% to €10bn. In the third quarter, Euromillions and Loto accounted for 20% of FDJ’s total stakes.

Sports betting stakes were up 14% to €2.6bn, with three sports driving this momentum; tennis, football and basketball.

Online stakes continued to grow for the French operator, rising 38% to €2.4bn. FDJ has also paid €2.6bn in taxes so far this year, up 8%.

The group forecasts a "positive outlook" for 2019 and 2020. It expects player stakes to be up by over 7% by the end of the year and adjusted revenue totalling €2bn.

Lottery will remain its lead revenue generator with a total in excess of €1.5bn, while sports betting is expected to produce €370m.

Stephane Pallez, Chairwoman and CEO of FDJ Group, expects to see this momentum continue and referenced a new, stable regulatory framework that grants FDJ exclusive rights to operate lottery and sports as an important factor.

Source: https://www.gamblinginsider.com/news/7954/fdjs-revenue-up-7-for-years-first-nine-months