France records revenue increase amid third national lockdown
La Française des Jeux (FDJ) has recorded an impressive increase in year-on-year revenue during Q1 of this year, even though all retail shops are closed down due to the ongoing COVID-19 pandemic and lockdowns.
For the three months leading up to the 31st of March, total revenue was up from €511.2 million to €537.6 million, a 5.2% boost. GGR also increased by a similar percentage up to €525.9 million, with revenue from other activities also increasing from €10.6 million to €11.8 million.
The operator stated that this increase in revenue was caused by a rise in stakes, as players in the country had been spending €4.6 billion, which was a. 11.8% boost from €4.11 billion during the first quarter of 2020. A large portion of its points-of-sale had been shut down during the whole quarter this year, along with the implementation of a 7 pm curfew throughout this time.
Despite the restrictions, all areas had recorded an increase in player spending, mainly sports betting, as stakes increased by 46.1% up to €1.1 billion, which was greatly aided by the resuming of the traditional sports calendar.
The main source of income for the operator is still lottery, as stakes increased by 3.8% up to €3.46 billion. La Française des Jeux further remarked that the closure of bars along with all the other restrictions severely affected Amigo, its most popular game, as stakes had dropped by 50%.
Players were able to win a total of €3.20 billion with the FDJ during Q1, which was a 13% increase from the €2.81 billion recorded during this time last year.
Stéphane Pallez, chairwoman and chief executive of La Française des Jeux, remarked:
“Despite the enduring impact of the health situation on the environment, the first quarter confirmed the good trends in our business, with stakes exceeding the levels recorded before the crisis. After reaching almost 10% of our global stakes in 2020, digital stakes continue to grow at a strong rate whereas our network activity is maintained. The events program for lottery and a busy sporting calendar, including Euro 2021 in football, should allow this momentum to continue in the months to come.”