La Française des Jeux : Q3 publication below expectations, leading to a downward revision to the guidance for 2023 revenue
>Q3 stakes and revenue below our forecasts - Yesterday after market close, FDJ published Q3 2023 revenue that was below our forecasts, principally due to a performance that fell short of expectations on the lottery. Stakes stood at € 4,802m (ODDO BHF € 5,000m est.), down 3%, with the lottery impacted by a reduction in the high number of jackpot draws for Euromillions and changes to the game Amigo since June (a 25% decline in stakes on this game), whilst momentum remai...La Francaise des Jeux is a France-based semi-public company that operates lottery and online games. The Company operates under the commercial brand name, FDJ, and provides scratch games, sports betting and draw games via a network of 35,800 points of sale (as of December 31, 2010), including LOTO points of sale, tobacconists and newsagents. The Company's scratch games include 1, 2 and 3 euros games; sports betting include the brand names, ParionsSport and ParionsWeb; and draw-based games include LOTO, Euro Millions, Rapido, Keno and others. The Company is also active in the online poker market with the website Barrierepoker.fr, which is jointly-owned with Groupe Lucien Barriere. The Company owns various subsidiaries, including Pacifique des Jeux and FDJ Developpement for the distribution in French overseas territory; Societe de Gestion de l'Echappee, which manages the Company-sponsored professional cycling team; Francaise de Motivation, Francaise d'Images, Lotsys and LVS.
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