FDJ reports Q4 and preliminary FY earnings; quarter earnings up 13.8%

French operator La Française des Jeux (FDJ) has released its initial report on its Q4 and full-year 2023 earnings. In Q4 2023 the company generated €747m, up 13.8% from this time last year, accounting for an increase in sports betting and online gaming as well as an increase in lottery revenue. 

FDJ’s lottery revenue totalled €531m in the quarter, up 7.8%. Sports betting and online gaming earned the remaining €158m, though this reflected growth in the sector by 14.9%.  

The results come following yesterday’s announcement of FDJ’s proposal to acquire Kindred Group for €2.6bn. The offer, which Kindred will be able to respond to between mid-February and mid-November 2024, values Kindred stock at a 24% premium of the price at close of trading on 19 January 2024 at SEK 130 ($12.43) per share.  

The same day, Kindred also reported its Q4 results, where total revenue came to £312.9m ($397.7m). Of the report, one of the most impressive metrics was in the company’s underlying EBITDA, which was up 45.3% from Q4 2022, with full-year EBITDA totalling £204.5m, up 58.3% from last year.   

The report also came with a notice from the Board that, were the offer to be accepted, the company would safeguard its employees and management due to the talent they bring to company operations.  

For the year as a whole, FDJ generated €2.62bn, up 6.5% from last year. One contributor to this was the company’s online business ventures, which were up 18.8% across the year for a total contribution of 13% of FDJ’s annual revenue. 

Recurring EBITDA came to €675m, for an EBITDA margin of 25.1%. The full report and breakdown of the company’s 2023 earnings will be published following auditing on Thursday 15 February.

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Beth Turner

Gambling Writer

Beth Turner is a journalist and Senior Staff Writer at Players Publishing, where she contributes news and feature content to leading B2B gaming titles, including Gambling Insider, Gaming America, Sports Betting Focus and Trafficology. Based in the London area, she has been part of the editorial team since October 2023, progressing to Senior Staff Writer in February 2025.

In her role, Beth covers key developments within the global gambling and iGaming landscape, producing insightful reporting on regulatory shifts, operator strategy, sponsorship trends and emerging market activity.

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