French iGaming sector posts 11% GGR drop for H1
France’s gambling sector has experienced an over 7% rise in total turnover for H1, despite a decline in iGaming revenue.
The country’s two monopolies, Française des Jeux (FDJ) and Pari Mutuel Urbain (PMU), drove an overall increase in turnover year-on-year, which climbed to €5bn ($4.9bn).
This is according to a recent update from France’s National Gambling Authority (ANJ). FDJ recorded stakes totalling more than €10bn, up 10% year-on-year from €9.1bn.
Meanwhile, its gross gaming revenue (GGR) for H1 was €3.2bn, a 12% increase. The ANJ attributed this growth “exclusively” to lottery activities, which saw stakes undergo a 17% jump to reach €8bn.
However, these results were partially offset by a 13% marketing expenditure increase, including a 25% rise in lottery marketing expenditure.
PMU, meanwhile, saw stakes leap by 18% to €3.9bn year-on-year, approaching pre-pandemic levels. GGR likewise experienced healthy growth, up 15% to €969m.
Its recovery has been aided by the lifting of health restrictions at points of sale. This, the ANJ said, “has clearly brought horseracing bettors back to the physical network, to the detriment of online gambling.”
To illustrate this point, online horserace betting generated €727m in GGR for H1, down 17% year-on-year, a decline “undoubtedly” linked to the return of in-person wagering.
Online sports betting in general recorded an 8% revenue drop, though this is largely attributable to H1 of last year offering an unfavourable comparison due to the UEFA Euro championship.
Finally, online poker posted a more modest 3% decline, and remains at a “high level” when compared to pre-pandemic figures. All-in-all, iGaming experienced an 11% decrease in GGR, which fell to less than €1.1bn.
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