A slowdown in lottery sales have dragged French gambling giant FDJ United’s H1 topline down, with second quarter French lottery sales dropping to €503m.
Total lottery GGR came in at €2.98bn (£2.5bn), down 2.1% from the previous corresponding period in 2025 when it was €3.04bn. Meanwhile revenue came down by 4% to a total of €1.02bn, dropping from €1.06bn.
While the company reported significantly fewer high-value Euromillion jackpots than the same period last year, lottery GGR and online lottery GGR went up by 1% and 6% respectively, with the latter signaling a gradual customer shift towards digital channels.
In terms of retail sports betting GGR, results dropped 1.1% YoY from €455m to €450m, while revenue declined 2.9% from €225m to €218m.
Meanwhile, FDJ’s online betting and gaming segments kept moving in line with management’s expectations. Online GGR for H1 came in at €702m relative to the previous year’s €703m.
However, revenue from that segment, of which Kindred is part of, was negatively impacted by higher gaming taxes across Europe, dropping from €466m to €431m.
Looking at regional performance, online GGR went up 6.6% YoY excluding the UK and the Netherlands. The former proved to be the weakest performing market for FDJ’s online portfolio.
The Netherlands, on the other hand, saw a significant recovery – going from a 15% YoY GGR drop in the first quarter to a 4.1% contraction in Q2.
Looking at topline performance, the group recorded total GGR of €4.31bn, which was 1.3% down on the previous year’s first half (€4.38bn). Meanwhile, net revenues declined by 4.5% to €1.78bn.
Consolidated accounts saw a 19% net profit decline to €180m relative to the previous year’s comparative of €222m. All in all, period trading for FDJ ended with a declared net loss of €16m.