FDJ strenghtens leadership with former Kindred CEO
French lottery giant La Française des Jeux, FDJ, announced the appointment of Kindred's former CEO Nils Andén as its new Executive Director of Online Betting and Gaming.
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Kindred sees strong Q3 results following FDJ’s acquisition
Before sharing a full report on its Q3 results, Kindred Group shared an early financial update highlighting the impact of its recent acquisition by FDJ.
FDJ announced its interest in the Kindred Group back in January. After the acquisition by FDJ, Kindred saw £294.5 million in revenue, which equals $382.5 million. This number comes as a result of the company’s strong business-to-business and business-to-consumer operations.
Gross winnings hit £283.1 million, which equals $367.7 million. Almost 83% of the winnings came from local and regulated markets.
Kindred stated:
“For this purpose, FDJ has estimated Kindred revenue on the basis of the scope that would effectively be retained by FDJ. This scope was announced on 22 January 2024, with the planned exit of Norway and other.com sites, unless there is a clear path toward a local license.”
Kindred will release the full Q3 report on October 25.
FDJ’s performance
French lottery giant La Française des Jeux, FDJ, is the operator of France’s and the Republic of Ireland’s national lottery games. The company will release its own financial results soon, including Kindres’s performance.
Despite the fact that France doesn’t aim to increase the gambling taxes for now, there is still a potential that sooner or later the tax hike will take place. However, FDJ remains confident in its growth. Recently, the company rebuilt Kindred’s board with new board members.
FDJ, together with Kindred’s board, aims to meet its financial goals set for 2024.
Paris reopens its doors for gaming clubs
After a two-month closure, Parisian gaming clubs opened their doors on March 1, following an extension of their trial period until the end of 2027. The Parisian gaming...
