【Betano Login】FY 2024: FDJ highlights 2025 challenges amid rebrand

The Betano LoginFrench gaming giant announced the rebrand to FDJ United after a series of major acquisitions in recent years, including of online B2C business Kindred, Irish lottery operator Premier Lotteries Ireland and horse-race betting company ZeTurf.

These deals, the business said, has cemented its status as a “European champion” and indeed makes it among the largest operators on the continent by market cap.

Stéphane Pallez, FDJ chairwoman and CEO, said: “The betting and gaming sector is constantly evolving, both in France and abroad. In this environment, we have always succeeded in reinventing ourselves and adapting to key trends in our market.

“The Group’s IPO in 2019 marked the start of a new stage in this journey, and the recent acquisition of Kindred opens up even more new possibilities. Today, our Group begins a new chapter in its history – more diversified and more international.”

The business announced the rebrand alongside a quarterly financial update which saw the company report revenue increases, as well as a reduction in outlook.

FDJ reported €3.07bn revenue for 2023, up 17% from the previous year and up 10% only excluding the Kindred acquisition.

On this revenue the company recorded €792m in recurring EBITDA, up 21 with a 25.8% margin.

FDJ highlights tax hike impacts

For 2025, FDJ said it is aiming for revenue of approximately €3.8bn, with a recurring EBITDA margin of over 24%.

This marks only a slight improvement from the business’ 2024 results if Kindred had been included for the full year of €3.79bn.

It argued the stability of the outlook compared to this resulted from France and the Netherlands’ decisions to hike their betting and gaming tax rates in July and January, respectively.

This, FDJ outlined, would affect French revenue by €45m and Dutch by €10m in 2025.

The operator also highlighted the financial impact of tougher regulation implementation, mainly in the Netherlands.

However, FDJ said these will be partially offset by measures introduced by the group, which it projected would reach €100m in the 2027 financial year — over half of which will result from the Online Betting and Gaming business unit.

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