FDJ United reaffirms commitment to UK and Netherlands amid tax increases

(AsiaGameHub) –   The company reported a decline in its first-quarter results but is aiming to reverse this trend.

France.- Following a drop in first-quarter revenue, gambling leader FDJ United is looking to the UK and the Netherlands as crucial markets for recovery. For the quarter ending March 31, gross gaming revenue (GGR) increased 1 per cent year-on-year to €2.18bn, but earnings fell 3 per cent to €895m, impacted by a €24m tax charge.

GGR for the online betting and gaming unit, which includes the operations from its Kindred acquisition, declined 1 per cent to €342m, with earnings down 8 per cent to €213m. This was primarily attributed to a further increase in the Dutch gambling tax effective from January. The recent rise in the UK’s remote gaming tax is expected to present an additional challenge.

French lottery and retail sports betting maintained a steady GGR of €1.74bn, yet profit decreased by 2 per cent to €627m following an additional €15m tax burden. The firm also pointed to short-term influences such as less appealing sports events and a high payout rate in retail betting. Revenue from French points of sale fell 3 per cent to €546m, whereas online lottery revenue grew 1 per cent to €81m.

Newly appointed CFO Dan Lévy, who joined from Ipsos, stated that his team is “fully committed” to improving results in the UK and Dutch markets.

Lévy assumed the finance leadership role after Pascal Chaffard transitioned from CFO to head the online division last month, following the exit of Kindred CEO Nils Andén.

FDJ continues to anticipate a full-year GGR increase for 2026, but predicts a modest profit dip. The recurring EBITDA margin is now forecast at 23–24 per cent, slightly under the previous goal of 24.5 per cent.

CEO Stéphane Pallez commented: “In a climate still influenced by tax hikes and stricter gaming regulations, the group is intensifying its focus on operational efficiency, synergies and financial discipline, targeting a return to sustainable, value-generating growth from the latter half of the year.”