{"id":295232,"date":"2023-10-24T06:51:33","date_gmt":"2023-10-24T11:51:33","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=295232"},"modified":"2023-10-24T12:17:14","modified_gmt":"2023-10-24T17:17:14","slug":"french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/","title":{"rendered":"French Gaming Operator FDJ Lowers 2023 Expectations as Growth Slows"},"content":{"rendered":"

It’s been a mixed year for France’s Fran\u00e7aise des Jeux<\/a> (FDJ). The gaming, lottery, and sports betting operator, which has seen both good and bad financial results, has had to lower its full-year guidance amid market changes.<\/p>\n

\"The
The Eiffel Tower lit up at night. French gaming operator FDJ has seen an improvement in revenue, but has reduced its full-year guidance. (Image: Pinterest)<\/figcaption><\/figure>\n

With the recently completed acquisition of ZEturf<\/a> and its horse racing betting activity, FDJ became the fourth operator in France’s competitive sports betting and online gaming market. It currently controls around 10% of the market.<\/p>\n

That acquisition may give FDJ a boost in the final quarter of the year, but it was too late to influence the third-quarter results. Even though revenue is up overall this year, the third quarter provided enough of a negative impact that FDJ had to revise its yearly projections downward.<\/p>\n

Not Enough Big Jackpots<\/h2>\n

FDJ faced a dip in the third quarter due to a scarcity of large jackpots in the Euromillions lottery<\/a> and the lack of popularity for its new Amigo game. The lottery-type draw was introduced in June and has yet to gain significant traction.<\/p>\n

\n

From July to September, FDJ witnessed a decline in its revenue, reporting \u20ac586 million (US$625.79 million). This represents a year-on-year decrease of 1%. However, for the first three quarters, revenue is up 4%.<\/p>\n<\/div>\n

The lottery segment experienced a substantial decline of 6% in Q3, which accounts for approximately 77% of FDJ’s overall revenue. Moreover, the gambling operator observed a 2% year-on-year decrease in stakes, reporting \u20ac4 billion (US$4.27 billion) for the third quarter.<\/p>\n

As a result of the changes, FDJ has reevaluated its growth projection for its endeavors this year. Anticipating additional changes in revenue, the group foresees a year-on-year increase of, at the most, 5%.<\/strong><\/p>\n

This is lower than what the company predicted earlier this year. When it released its last revenue report over the summer, FDJ indicated that its full-year performance would likely be better than last year by 5% or more.<\/p>\n

Nonetheless, FDJ reassured investors that it remains steadfast in achieving its 2023 target of roughly 24% operating margin (EBITDA). It said this projection is achievable primarily due to the company’s effective management of expenses.<\/p>\n

Help is on the Way<\/h2>\n

Q4 will likely be much better for FDJ. The launch of a new lottery option<\/a> across several European countries will undoubtedly give it a boost.<\/p>\n

EuroDreams was just announced and promises to be a huge hit with European lottery players. It’s a chance to win \u20ac20,000 (US$21,358) a month for 30 years for just \u20ac2.50 (US$2.67).<\/strong><\/p>\n

Combining nine other lotteries in Europe, EuroDreams is the first annuity game on a European scale. There will be two draws per week after the first draw is held on November 6. Tickets will go on sale as of October 30.<\/p>\n

FDJ is also set to take over the Irish Lottery<\/a>, which will also participate in the EuroDreams project. The company won a bidding war this summer that included Allwyn, International Game Technology, and Australia’s Lottery Corp. The acquisition of the company that currently operates the lottery, Premier Lotteries Ireland, is almost complete.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been a mixed year for France’s Fran\u00e7aise des Jeux (FDJ). The gaming, lottery, and sports betting operator, which has seen both good and bad financial results, has had to lower its full-year guidance amid market changes. With the recently completed acquisition of ZEturf and its horse racing betting activity, FDJ became the fourth operator […]<\/p>\n","protected":false},"author":64,"featured_media":295231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81919,82829,81920],"acf":[],"yoast_head":"\nFrench Gaming Operator FDJ Lowers 2023 Expectations as Growth Slows - Casino.org<\/title>\n<meta name=\"description\" content=\"French gaming operator FDJ lowers 2023 expectations as growth slows, although could see a reversal in the fourth quarter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French Gaming Operator FDJ Lowers 2023 Expectations as Growth Slows - Casino.org\" \/>\n<meta property=\"og:description\" content=\"French gaming operator FDJ lowers 2023 expectations as growth slows, although could see a reversal in the fourth quarter.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-24T11:51:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-24T17:17:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/The-Eiffel-Tower-lit-up-at-night.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1030\" \/>\n\t<meta property=\"og:image:height\" content=\"644\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Erik Gibbs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erik Gibbs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/\",\"url\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/\",\"name\":\"French Gaming Operator FDJ Lowers 2023 Expectations as Growth Slows - Casino.org\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/The-Eiffel-Tower-lit-up-at-night.jpg\",\"datePublished\":\"2023-10-24T11:51:33+00:00\",\"dateModified\":\"2023-10-24T17:17:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca\"},\"description\":\"French gaming operator FDJ lowers 2023 expectations as growth slows, although could see a reversal in the fourth quarter.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/french-gaming-operator-fdj-lowers-2023-expectations-as-growth-slows\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/The-Eiffel-Tower-lit-up-at-night.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/The-Eiffel-Tower-lit-up-at-night.jpg\",\"width\":1030,\"height\":644,\"caption\":\"The Eiffel Tower lit up at night. 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