FDJ UNITED Reports Robust H1 2025 Performance and Affirms 2025 Targets
FDJ UNITED, formerly known as La Française des Jeux and a prominent player in Europe’s lottery, betting, and gaming sector, has released its financial results for the first half of 2025, highlighting significant revenue growth following its acquisition of Kindred.
Steady Business Growth Despite Challenges in UK and Netherlands
In its latest financial disclosure, FDJ UNITED announced revenues of EUR 1.87 billion (approximately $2.13 billion) for the first half of 2025, marking a 31% increase compared to the same period in 2024. On a restated basis, however, this represented a slight 2% decline.
The company’s lottery and sports betting segments within France generated EUR 1.29 billion ($1.47 billion), reflecting a 4% increase when adjusted. Lottery revenues grew notably by 6%, reaching EUR 1.07 billion ($1.22 billion), driven in part by a 16% uptick in its digital sales channel, which accounted for EUR 160 million ($182.6 million).
Conversely, revenue from point-of-sale sports betting dropped by 6% to EUR 225 million ($256.8 million), attributed to less favorable sports betting outcomes.
Online betting and gaming units recorded EUR 466 million ($531.8 million) in revenue, down 12% on a restated basis. The company explained this decrease as a result of a tough year-over-year comparison due to the Euro soccer tournament in 2024 and newly introduced taxes and regulations in 2025. Excluding the UK and Netherlands markets, the revenue actually increased by 5%.
Q2 Performance and Confirmation of Financial Guidance
FDJ UNITED’s second quarter saw a 2% rise in revenue year-over-year, achieving EUR 235 million ($268.2 million). Recurring EBITDA for the quarter stood at EUR 441 million, maintaining a margin of 23.6%.
The adjusted net income reached EUR 222 million ($253.7 million), positively influenced by the integration of Kindred.
Looking ahead, the company reaffirmed its guidance for 2025, anticipating revenues in line with the 2024 pro forma figures and aiming for a recurring EBITDA margin exceeding 24%.
CEO Stéphane Pallez on Meeting Expectations During Transitional Phase
Stéphane Pallez, Chair and CEO of FDJ UNITED, described 2025 as a transitional year focused on incorporating Kindred into the company’s overall operations. He stated that the half-year results were consistent with the company’s forecasts.
“We are also proud of the success of our employee share ownership program, which demonstrates our commitment to sharing FDJ UNITED’s value creation with all stakeholders.”
— Stéphane Pallez, Chair & CEO of FDJ UNITED
Importantly, this employee share plan has increased the proportion of company shares owned by employees to 4.6%, underscoring the company’s focus on inclusive growth.