FDJ sees steady Q3 recovery as stakes up 6%

Française des Jeux (FDJ) described “good momentum” for Q3 2020 as year-on-year the amount staked by customers increased by 6% overall, to €4.4bn ($5.16bn). This is up 63% from Q2 levels.

Of this total staked, sports betting increased by 27%, which the operator has attributed to the postponement of sports competitions over the summer due to COVID-19. Online sports betting saw growth of 44%, while offline was up 3%.

Overall revenue was still down 1% year-on-year, at €505m. Revenue for sports betting fell 5% from 2019 levels, while lottery dropped 1%.

For the nine months ending September 2020, the overall amount staked with FDJ was down by 10%, to €11.3bn. Revenue also declined by 10% for the period, to €1.4m.

The most recent trading update has seen FDJ adjust its outlook for 2020. The operator has forecasted revenue of around €1.9bn for the full year, a drop of 7% from 2019.

FDJ also expects full-year stakes of €16bn. Low-to-mid single digit growth in stakes is expected for the final quarter of 2020.

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