FDJ Reports Q1 Revenue Growth of 14 Percent

La Francaise des Jeux (FDJ) has published its first quarter 2022 financial results, recording €613m ($662m) in revenue.

For Q1 of the current year, FDJ saw its revenue increase by 14% on a quarter-over-quarter basis, with stakes rising by more than 10% to over €5bn.

But, they acknowledged that the comparison is more favorable because of the measures taken in order to stop the spread of Covid-19 during the first quarter. During the prior-year period, nearly 10% of FDJ’s network was closed, primarily bars, though this was partially offset by digital growth.

But since then, restrictions have been eased, contributing to the group’s healthy growth for Q1 2022.

Despite what FDJ called “a near absence of a long cycle for draw games,” point-of-sale stakes increased by 11.5% to €4.5bn.

Marketing and sales efforts were cited as the reason for this increase. The online stakes increased by an even smaller 1%, but still significantly. All-in-all, these amounted to €575m.

Lottery revenue, meanwhile, amounted to €467m, up 14%, while sports betting revenue came to €129m for a 13.4% increase.

FDJ was also awarded the A1+ Sustainability Rating by Moody’s ESG Solutions for the fourth consecutive year.

“The start of the year was marked by strong growth in all our business lines, across all sales channels,” said Stéphane Pallez, FDJ’s Chairwoman and CEO.

“The strong growth in lottery and sports betting revenue was driven by our network of 30,000 retail outlets and solid online activity.”

She added: “This good financial and extra-financial performance underpins our strategy of sustainable and profitable growth, and our outlook for 2022.”