Latest News
La Française des Jeux (FDJ) announces its results for the first half of 2020
The good momentum in stakes seen in the early part of the year (increase of 5% until mid-March) was halted by the consequences of the Covid-19 epidemic (decline of nearly 60% over the two months of lockdown). The gradual recovery since the lifting of lockdown in mid-May has accelerated with the gradual resumption of sporting competitions, including most of the national football championships in Europe, and the return of Amigo on 8 June. As such, the decline in stakes was limited to 18% over the half-year compared with the first half of 2019. They totalled €6.9 billion, breaking down as:
- Lottery stakes down 13% at €5.8 billion:
- Of which -15% for draw games to €2.2 billion and -11% for instant games to €3.6 billion;
- A 50% increase in online stakes to €0.5 billion.
- Sports betting stakes down 39% at €1.1 billion.
- Half-year revenue totalled €849 million, down 15% on an adjusted basis,1 and EBITDA amounted to €174 million, a margin of 20.5%.
- For EBITDA, the mechanical impact of the decline in activity was partially offset by the implementation of a large part of the savings plan of more than €80 million for 2020.
- From mid-June the Group has returned to an overall level of activity comparable with that of 2019. However, in view of the many uncertainties that remain, the Group does not communicate any business or earnings forecasts for the financial year 2020 as a whole. However, it should be borne in mind that the EBITDA margin for the second half of 2019 benefited from exceptional long lottery cycles, as well as unexpected sporting results, which reduced the player payout ratio in the sports betting segment.
Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ, said: “The Group’s strong mobilisation from the onset of the health crisis and a swiftly implemented cost-cutting plan have limited the impact on the first-half results. For several weeks, we have been recording stakes at a level comparable with that of 2019. Our strategic orientations and the strength of the FDJ model have been confirmed, and we continue to invest to support the development of all our activities.”
The 2019 data used for the following analyses have been adjusted to reflect the new tax regime that came into force on 1st January 2020 and to consolidate Sporting Group over a full year (but without adjustment for long lottery cycles)
Key figures (in millions of euros)
|
30 June |
30 June 2019 adjusted |
Chg. vs |
30 June 2019 |
Chg. vs |
|
|
Stakes |
6,898 |
8,454 |
(18%) |
8,420 |
(18%) |
|
Revenue* |
849 |
995 |
(15%) |
944 |
(10%) |
|
Recurring operating profit |
124 |
165 |
(25%) |
136 |
(9%) |
|
Net profit |
50 |
|
|
96 |
(48%) |
|
|
|
|
|
|
|
|
EBITDA** |
174 |
208 |
(16%) |
177 |
(2%) |
|
EBITDA/revenue |
20.5% |
20.9% |
|
18.8% |
|
* Revenue: net gaming revenue and revenue from other activities
** EBITDA: recurring operating profit adjusted for depreciation and amortisation
Activity and results for H1 2020
- Stakes of €6.9 billion, down 18.4%
- Lottery stakes of €5.8 billion (-12.6%)
Lottery staked amounted to €5.8 billion, with a drop of 11.3% to €3.6 billion for instant games and a drop of 14.6% to €2.2 billion for draw games:
- For instant games, the decline can be attributed in large part to the steep decline in footfall in points of sale during lockdown and the lack of activity in the product portfolio during the second quarter;
- For draw games, the decrease can be ascribed chiefly to the suspension of Amigo, an express draw game in points of sales from 19 March to 8 June. Adjusted for Amigo, draw games stakes were down only slightly (-1.7%);
- Online lottery stakes enjoyed good momentum, with an increase of 50% to €0.5 billion, and a marked acceleration in the second quarter, driven mainly by growth in the number of active players and the almost doubling of new registrations on fdj.fr.
- Sports betting stakes of €1.1 billion (-38.8%)
Sports betting stakes totalled €1.1 billion. After a performance in line with objectives at the start of the year, sports betting stakes were impacted by the gradual cancellation of virtually all sporting competitions from mid-March 2020. No major sporting competitions took place during lockdown, which considerably reduced the betting offer. Since mid-May, sporting competitions, particularly football, have gradually resumed, resulting in a very significant resumption in stakes.
- Revenue down 14.7% at €849 million
On half-yearly stakes of €6.9 billion (-18.4%), player winnings totalled €4.6 billion (-19.9%), representing a player payout (PPO) ratio of 67.3%, compared with 68.4% in the first half of 2019. The decline in the PPO reflects the change in the betting mix, with a higher share of lottery games. In addition, the sports betting PPO was reduced by unexpected results.
FDJ recorded gross gaming revenue (GGR: stakes less prizes won) down 15.1% at €2.3 billion. Net gaming revenue (NGR: GGR less contribution to the public finances) amounted to €829 million, i.e. 12.0% of stakes, with stability in the rate of public levies on games compared with that of the first half of 2019 at 63.5% of GGR, or €1.4 billion.
The FDJ Group’s revenue amounted to €849 million (-14.7%), compared with €995 million in the six months to end-June 2019.
- EBITDA of €174 million, representing a margin of 20.5% on revenue (vs 20.9% in H1 2019)
- Contribution margin by activity:
- Lottery: contribution margin steady at 32.2%
The contribution margin of the Lottery BU was €219 million, i.e. a decline of €37 million (‑14.4%), for a margin on revenue of 32.2%, vs 33.2% in H1 2019 on the basis of revenue down 12.2% at €679 million.
Cost of sales, mainly the remuneration of distributors, was down 13.6% due to the drop in stakes in points of sale, while the slight increase of 6.6% in marketing and communication expenses to €65 million reflects the continued development of the product offering, partly offset by the reduction in advertising and promotional expenses.
- Sports betting: contribution margin of 31.3%, an increase of 7 points due to the low PPO ratio
The Sports Betting BU’s contribution margin was €45 million in H1 2020, almost stable compared with the same period in 2019 (€48 million), i.e. a margin on revenue of 31.3%, up more than 7 points compared with the first half of 2019 (24.3%). Based on a drop of 38.8% in stakes, the lower half-yearly PPO ratio than in the first half of 2019 (73.1% vs 77.7%) helped limit to €50 million the decline in revenue (-25.7%) to €145 million.
The 39.3% reduction in cost of sales reflects trends in stakes, while the 15.8% decline in marketing and communication expenses to €34 million is related to the reduction in advertising and promotional initiatives against the backdrop of a reduced product offering.
- Adjacent activities and holding company
Adjacent activities (International, Payments & Services and Entertainment) and the holding company recorded revenue of €24 million, with a contribution margin close to breakeven. Holding company costs amounted to €89 million, down €9 million compared with H1 2019.
- EBITDA margin of 20.5%, virtually stable thanks in large part to the implementation of a savings plan of more than €80 million
From the onset of the health crisis and its first effects, the Group implemented a savings plan of more than €80 million for 2020. Two-thirds of the plan, more than half of which covered A&P expenditure, was implemented in H1, helping offset more than half of the decline in activity and thereby helping keep FDJ’s EBITDA margin above 20%.
The Group’s operating expenses were down 12.5% at €725 million, of which:
– Cost of sales of €482 million, down 17.6%, which notably includes the remuneration of €336 million for distributors, down €88 million (-21%), in line with the decline in stakes in the point-of-sale network;
– Marketing and communication expenses of €147 million, down nearly 2%;
– General and administrative expenses of €87 million, down 7%.
Depreciation and amortisation amounted to €50 million, compared with €43 million in H1 2019. Their growth was driven mainly by the amortisation of exclusive operating rights over a full half-year in 2020, compared with a single month in H1 2019.
On those bases, the FDJ Group recorded a recurring operating profit of €124 million (-24.9%) and EBITDA of €174 million (-16.4%), i.e. a margin on revenue of 20.5%, compared with 20.9% in June 2019.
- Net income of €50 million including non-recurring items
In the first half of 2020, FDJ recorded other non-recurring operating expenses of €30 million, compared with €7 million in the first half of 2019. They related to Sporting Group, on which FDJ recorded impairment due to its sports betting activity in the United Kingdom.
The financial result for the first half of 2020 (expense of €5 million) reflects the change in the value of part of FDJ’s financial assets in a context of bearish financial markets.
After taking into account a net tax expense of €39 million, down €5 million, the Group’s net profit for the first half of 2020 was €50 million.
- Available cash exceeding €800 million and net cash surplus of €298 million at end-June 2020
At the end of June 2020, the Group had more than €800 million in available cash.
The net cash surplus is one of the indicators of the level of net cash generated by the Group. It corresponds mainly to financial investments and gross cash (€1,154 million), less borrowings (€733 million).
As of 30 June 2020, it amounted to €298 million, an increase of €218 million compared with 31 December 2019. The change was mainly attributable to:
– The EBITDA generated over the half-year, plus a dual positive effect on working capital surplus linked on the one hand to the change in the payment schedule for public levies (monthly in 2020 but weekly in 2019) and on the other hand to unclaimed prizes only returned to the State at the end of the year;
– Against which are charged dividends in respect of 2019 and investments for the first half of the year.
For information, the net cash surplus at the end of June cannot be extrapolated to the end of December because there are significant calendar effects on the payments of public levies, including an advance on public levies in December.
A financial presentation is available on the FDJ group’s website
https://www.groupefdj.com/en/investors/financial-publications.html.
FDJ’s Board of Directors met on 29 July 2020 and reviewed the interim consolidated financial statements at 30 June 2020, which were prepared under its responsibility. The limited review procedures on the interim consolidated financial statements have been carried out. The review report of the statutory auditors is being issued.
The Group’s next financial communication
Given the changing nature of the situation, the estimates and forward-looking statement presented by FDJ cannot constitute either a forecast or a target. The Group will announce its stakes and revenue for the September quarter after trading on 14 October and will issue its new 2020 outlook as soon as possible.
About La Française des Jeux (FDJ Group):
France’s national lottery and leading gaming operator, the #2 lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable and responsible gaming to the general public in the form of lottery games (draws and instant games) and sports betting (ParionsSport), available from physical outlets and online. FDJ’s performance is driven by a portfolio of iconic and recent brands, the #1 local sales network in France, a growing market, recurring investment and a strategy of innovation to make its offering and distribution more attractive with an enhanced gaming experience.
FDJ Group is listed on the Euronext Paris regulated market (Compartment A – FDJ.PA) and is included in the SBF 120, Euronext Vigeo France 20, STOXX Europe 600, MSCI Europe and FTSE Euro indices.
For further information, www.groupefdj.com
Appendices
Adjusted 2019 data, with the full-year application of the new tax regime that came into force on 1 January 2020 and the consolidation of Sporting Group over 12 months.
|
In € million |
30 June 2020 |
30 June 2019 |
Chg. 30 June 2020 vs |
30 June 2019 |
Chg. 30 June 2020 vs |
|
Stakes* |
6,898 |
8,420 |
(18.1%) |
8,454 |
(18.4%) |
|
Attributable to Lottery |
5,777 |
6,609 |
(12.6%) |
6,609 |
(12.6%) |
|
Instant lottery games** |
3,558 |
4,012 |
(11.3%) |
4,012 |
(11.3%) |
|
Draw games |
2,219 |
2,598 |
(14.6%) |
2,598 |
(14.6%) |
|
Attributable to Sports betting |
1,108 |
1,810 |
(38.8%) |
1,810 |
(38.8%) |
|
|
|
|
|
|
|
|
Digitalised stakes*** |
1,391 |
1,652 |
(15.8%) |
1,652 |
(15.8%) |
|
Offline stakes |
6,269 |
7,917 |
(20.8%) |
7,917 |
(20.8%) |
* Stakes reflect wagers by players, and do not constitute the revenue of the FDJ Group
** Mainly scratch games (point of sale and online)
*** Digitalised stakes include online and digitalised stakes at the point of sale, i.e. using a digital service/application for their preparation, prior to registration by the distributor
|
In € million |
30 June 2020 |
30 June 2019 |
Chg. 30 June 2020 vs |
30 June 2019 |
Chg. 30 June 2020 vs |
|
Stakes |
6,898 |
8,420 |
(18.1%) |
8,454 |
(18.4%) |
|
Player winnings |
4,646 |
5,757 |
(19.3%) |
5,799 |
(19.9%) |
|
Player payout ratio |
67.3% |
68.4% |
|
68.6% |
|
|
Gross gaming revenue (GGR) |
2,253 |
2,663 |
(15.4%) |
2,654 |
(15.0%) |
|
GGR as a % of stakes |
32.7% |
31.6% |
3.3% |
31.4% |
4.0% |
|
Net gaming revenue (NGR) |
829 |
933 |
(11.2%) |
976 |
(15.0%) |
|
NGR as a % of stakes |
12.0% |
11.1% |
8.5% |
11.5% |
4.1% |
|
Revenue |
849 |
944 |
(10.1%) |
995 |
(14.7%) |
Segment reporting
| 30 June 2020 | |||||||
| In € millions | Lottery BU | Sport Betting BU |
Other segments |
Holding company |
Total before depreciation and amortisation |
Depreciation and amortisation |
Total Group |
| Stakes |
5,777 |
1,108 |
14 |
– |
6,898 |
6,898 |
|
| Gross gaming revenue |
1,954 |
298 |
1 |
– |
2,253 |
2,253 |
|
| Net gaming revenue |
677 |
145 |
6 |
– |
829 |
829 |
|
| Revenue |
679 |
145 |
24 |
1 |
849 |
849 |
|
| Cost of sales |
(395) |
(65) |
(3) |
– |
(464) |
(18) |
(482) |
| Marketing and communication expenses |
(65) |
(34) |
(21) |
(12) |
(133) |
(14) |
(147) |
| Contribution margin |
219 |
45 |
(1) |
(12) |
251 |
(32) |
219 |
| General and administration expenses |
(78) |
(78) |
(18) |
(95) |
|||
| EBITDA |
174 |
||||||
| Depreciation and amortisation |
(50) |
||||||
| Recurring operating profit |
124 |
||||||
| BU Loterie | BU Paris sportifs |
ABU | Holding | Total avant amort. |
Amort. | Total Groupe | |
| Mises |
6,610 |
1,810 |
34 |
0 |
8,454 |
8,454 |
|
| Produit Brut des Jeux (PBJ) |
2,251 |
403 |
0 |
0 |
2,654 |
2,654 |
|
| Produit Net des Jeux (PNJ) |
771 |
195 |
9 |
0 |
976 |
976 |
|
| Chiffre d’affaires |
773 |
195 |
27 |
0 |
995 |
995 |
|
| Coût des ventes |
-456 |
-107 |
-3 |
0 |
-566 |
-19 |
-585 |
| Coûts marketing et communication |
-61 |
-41 |
-22 |
-14 |
-138 |
-12 |
-150 |
| Marge contributive |
256 |
48 |
2 |
-14 |
291 |
-31 |
260 |
| Coûts administratifs et généraux |
-83 |
-83 |
-12 |
-95 |
|||
| EBITDA |
208 |
||||||
| Dotations aux amortissements |
-43 |
||||||
| Résultat Opérationnel Courant |
165 |
| 30 June 2019 published | |||||||
| In € millions | Lottery BU |
Sport Betting BU |
Other segments |
Holding company |
Total before depreciation and amortisation |
Depreciation and amortisation |
Total Group |
| Stakes |
6,610 |
1,810 |
– |
– |
8,420 |
8,420 |
|
| Gross gaming revenue |
2,257 |
406 |
– |
– |
2,663 |
2,663 |
|
| Net gaming revenue |
759 |
173 |
2 |
– |
933 |
933 |
|
| Revenue |
761 |
173 |
11 |
– |
944 |
944 |
|
| Cost of sales |
(456) |
(107) |
(1) |
– |
(564) |
(19) |
(583) |
| Marketing and communication expenses |
(62) |
(40) |
(11) |
(14) |
(127) |
(11) |
(138) |
| Contribution margin |
243 |
26 |
(2) |
(14) |
253 |
(30) |
223 |
| General and administration expenses |
(76) |
(76) |
(11) |
(87) |
|||
| EBITDA |
177 |
||||||
| Depreciation and amortisation |
(41) |
||||||
| Recurring operating profit |
136 |
||||||
Consolidated income statement
| In € millions | 30 June 2020 | 30 June 2019 published |
| Stakes |
6,898.4 |
8,420.0 |
| Player payout |
(4,645.5) |
(5,756.9) |
| Gross gaming revenue |
2,252.8 |
2,663.0 |
| Public levies |
(1,429.8) |
(1,692.4) |
| Structural allocations to counterparty funds |
0.0 |
(39.1) |
| Other revenue from sports betting |
6.0 |
1.9 |
| Net gaming revenue |
829.0 |
933.4 |
| Revenue from other activities |
19.7 |
10.5 |
| Revenue |
848.6 |
944.0 |
| Cost of sales |
(481.9) |
(582.9) |
| Marketing and communication expenses |
(147.5) |
(138.1) |
| General and administrative expenses |
(87.0) |
(85.6) |
| Other recurring operating income |
0.5 |
0.4 |
| Other recurring operating expenses |
(9.0) |
(1.8) |
| Recurring operating profit |
123.8 |
135.9 |
| Other non recurring operating income |
0.2 |
0.1 |
| Other non recurring operating expenses |
(30.3) |
(7.3) |
| Operating profit |
93.7 |
128.7 |
| Cost of debt |
(2.1) |
(0.8) |
| Other financial income |
5.7 |
12.2 |
| Other financial expenses |
(8.9) |
(0.5) |
| Net financial income/(expense) |
(5.2) |
10.9 |
| Share of net income for joint ventures |
0.5 |
0.6 |
| Profit before tax |
89.0 |
140.2 |
| Income tax expense |
(38.8) |
(44.4) |
| Net profit for the period |
50.2 |
95.9 |
| Attributable to : | ||
| Owners of the parent |
50.2 |
95.9 |
| Non -controlling interests |
0.0 |
0.0 |
| Basic earnings per share (in €) |
0.26 |
0.50 |
| Diluted earnings per share (in €) |
0.26 |
0.50 |
| In € millions |
30 June 2020 |
30 June 2019 |
June 2020 vs |
30 June 2019 |
June 2020 vs |
| Recurring operating profit |
124 |
136 |
(8.8%) |
165 |
(24.8%) |
| Depreciation and amortisation |
(50) |
(41) |
22.0% |
(43) |
16.3% |
| EBITDA |
174 |
177 |
(1.8%) |
208 |
(16.4%) |
Consolidated statement of comprehensive income
| In € millions | 30 June 2020 | 30 June 2019 published |
| Net profit for the period |
50.2 |
95.9 |
| Cash flow hedging, before tax |
0.1 |
0.2 |
| Net investment hedge on foreign activities, before tax |
6.6 |
0.6 |
| Net currency translation difference, before tax |
(2.4) |
0.3 |
| Tax related to items that may subsequently be recycled |
(2.1) |
(0.2) |
| Items recycled or that may subsequently be recycled to profit |
2.2 |
0.9 |
| Actuarial gains and losses |
0.3 |
(3.3) |
| Others |
(0.0) |
(0.0) |
| Tax related to actuarial gains and losses through equity |
(0.1) |
1.0 |
| Items that may not subsequently be recycled to profit |
0.2 |
(2.3) |
| Other comprehensive income/(expense) |
2.4 |
(1.4) |
| Total comprehensive income for the period |
52.7 |
94.5 |
| Attributable to : | ||
| Owners of the parent |
52.7 |
94.5 |
| Non-controlling interests |
0.0 |
0.0 |
Consolidated statement of financial position
| In € millions | ||
| ASSETS | 30 June 2020 | 31 December 2019 published |
| Goodwill |
28.1 |
56.4 |
| Exclusive operating rights |
363.1 |
370.7 |
| Intangible assets |
162.2 |
148.3 |
| Property, plant and equipment |
385.7 |
394.0 |
| Non-current financial assets |
378.1 |
584.3 |
| Investments in associates |
14.9 |
14.5 |
| Non-current assets |
1,332.1 |
1,568.2 |
| Inventories |
16.3 |
10.5 |
| Trade and distribution network receivables |
385.8 |
469.8 |
| Other current assets |
302.0 |
314.8 |
| Tax payable assets |
6.0 |
18.9 |
| Current financial assets |
354.9 |
272.2 |
| Cash and cash equivalents |
475.6 |
201.5 |
| Current assets |
1,540.6 |
1,287.8 |
| TOTAL ASSETS |
2,872.7 |
2,856.0 |
| In € millions | ||
| EQUITY AND LIABILITIES | 30 June 2020 | 31 December 2019 published |
| Share capital |
76.4 |
76.4 |
| Statutory reserves |
91.7 |
87.5 |
| Retained earnings (incl. Net profit for the period) |
366.2 |
406.7 |
| Reserves for other comprehensive income/(expense) |
1.2 |
(1.3) |
| Equity attributable to owners of the parent |
535.4 |
569.2 |
| Non-controlling interests |
0.0 |
0.0 |
| Equity |
535.4 |
569.2 |
| Provisions for pensions and other employee benefits |
56.3 |
56.9 |
| Non-current provisions |
48.1 |
49.3 |
| Deferred tax liabilities |
26.1 |
24.9 |
| Non-current player funds |
0.0 |
0.0 |
| Non-current financial liabilities |
568.6 |
229.7 |
| Non-current liabilities |
699.1 |
360.9 |
| Current provisions |
15.9 |
16.7 |
| trade and distribution network payables |
314.1 |
411.6 |
| Tax payable liabilities |
1.0 |
0.7 |
| Current player funds |
176.4 |
156.6 |
| Public levies |
540.6 |
414.8 |
| Winnings payable and distributable |
244.4 |
189.3 |
| Other current liabilities |
180.6 |
169.6 |
| Payable to the French State with respect to the exclusive operating rights |
0.0 |
380.0 |
| Current financial liabilities |
165.1 |
186.5 |
| Current liabilities |
1,638.2 |
1,925.9 |
| TOTAL EQUITY AND LIABILITIES |
2,872.7 |
2,856.0 |
Consolidated statement of cash flows
| In € millions | 30 June 2020 | 30 June 2019 published |
| OPERATING ACTIVITIES | ||
| Net consolidated profit for the period |
50.2 |
95.9 |
| Change in depreciation, amortisation and impairment of non-current assets |
75.9 |
43.1 |
| Change in provisions |
4.1 |
6.1 |
| Disposal gains or losses |
0.2 |
0.1 |
| Income tax expense |
38.8 |
44.4 |
| Other non-cash items from P&L |
(0.2) |
0.0 |
| Net financial (income)/expense |
5.2 |
(10.9) |
| Share of net income from joint ventures |
(0.5) |
(0.6) |
| Non-cash items |
123.5 |
82.2 |
| Use of provisions – payments |
(6.5) |
(4.5) |
| Interest received |
2.5 |
2.3 |
| Income taxes paid |
(25.2) |
(31.9) |
| Change in trade receivables and other current assets |
(19.6) |
124.2 |
| Change in inventories |
(5.7) |
(1.9) |
| Change in trade receivables and other current liabilities |
222.9 |
(56.5) |
| Change in other components of working capital |
(1.6) |
(1.5) |
| Change in operating working capital |
196.0 |
64.3 |
| Net cash flow from/(used in) operating activities |
340.6 |
208.3 |
| INVESTING ACTIVITIES | ||
| Acquisitions of property, plant and equipment and intangible assets |
(423.2) |
(32.4) |
| Acquisitions of investments |
0.0 |
(111.8) |
| Disposals of property, plant and equipment and intangible assets |
0.1 |
0.0 |
| Change in current and non-current financial assets |
145.3 |
(50.1) |
| Disposals of other financial assets |
0.0 |
0.0 |
| Change in loan and advances granted |
(26.9) |
2.8 |
| Dividends received from associates and non-consolidated share |
0.0 |
0.4 |
| Other |
0.5 |
0.0 |
| Net cash flow from/(used in) investing activities |
(304.3) |
(191.0) |
| FINANCING ACTIVITIES | ||
| Issue of long-term debt |
380.0 |
113.3 |
| Repayment of the current portion of long-term debt |
(8.8) |
(4.0) |
| Repayment of lease liabilities |
(4.0) |
(2.9) |
| Dividends paid to ordinary shareholder of the parent company |
(83.4) |
(118.3) |
| Interest paid |
(4.8) |
(0.8) |
| Other |
(0.6) |
0.0 |
| Net cash flow from/(used in) financing activities |
278.5 |
(12.7) |
| Impact of exchange rates change |
(0.4) |
0.9 |
| Net increase/(decrease) in net cash |
314.3 |
5.5 |
| Cash and cash equivalent as at 1 January |
201.5 |
167.2 |
| Cash and cash equivalent as at 31 December |
475.6 |
179.0 |
| Current bank overdrafts as at 1 January |
(40.2) |
(7.2) |
| Current bank overdrafts as at 31 December |
0.0 |
(13.6) |
Consolidated statement of changes in equity
|
In € millions |
Share capital |
Statutory reserves |
Retained earnings (incl. Net profit for the period) |
Cash flow hedging |
Net investment hedge on foreign activities |
Net currency translation difference |
Actuarial gains and losses |
Reserves for other comprehensive income/ |
Equity attributable to owners of the parent |
Non-controlling interests |
Total equity |
|
|
|||||||||||
|
Equity as at 31 December 2018 |
76.4 |
85.3 |
401.1 |
0.2 |
0.0 |
2.1 |
(1.2) |
1.1 |
563.9 |
0.0 |
563.9 |
|
Net profit for the period |
95.9 |
95.9 |
0.0 |
95.9 |
|||||||
|
Other comprehensive income/(expense) |
0.2 |
0.4 |
0.3 |
(2.3) |
(1.4) |
(1.4) |
(1.4) |
||||
|
Total comprehensive income/(expense) for the period |
0.0 |
0.0 |
95.9 |
0.2 |
0.4 |
0.3 |
(2.3) |
(1.4) |
94.5 |
(0.0) |
94.5 |
|
Appropriation of 2018 profit/(loss) |
2.0 |
(2.0) |
|||||||||
|
2018 dividends paid |
(122.0) |
(122.0) |
(122.0) |
||||||||
|
Equity as at 30 June 2019 |
76.4 |
87.4 |
372.8 |
0.4 |
0.4 |
2.4 |
(3.5) |
(0.3) |
536.2 |
(0.0) |
536.2 |
|
|
|||||||||||
|
Equity as at 31 December 2019 |
76.4 |
87.5 |
406.7 |
(0.1) |
(1.4) |
4.1 |
(3.9) |
(1.3) |
569.2 |
0.0 |
569.2 |
|
Net profit for the period |
50.2 |
50.2 |
50.2 |
||||||||
|
Other comprehensive income/(expense) |
0.1 |
4.5 |
(2.4) |
0.2 |
2.5 |
2.5 |
2.5 |
||||
|
Total comprehensive income/(expense) for the period |
0.0 |
0.0 |
50.2 |
0.1 |
4.5 |
(2.4) |
0.2 |
2.5 |
52.7 |
0.0 |
52.7 |
|
Appropriation of 2019 profit/(loss) |
4.2 |
(4.2) |
|||||||||
|
2019 dividends paid |
(86.0) |
(86.0) |
(86.0) |
||||||||
|
Other |
(0.6) |
(0.6) |
(0.6) |
||||||||
|
Equity as at 30 June 2020 |
76.4 |
91.7 |
366.1 |
0.0 |
3.1 |
1.7 |
(3.7) |
1.2 |
535.4 |
0.0 |
535.4 |
Net cash surplus
| In € millions | 30 June 2020 | 31 December 2019 published |
| Non-current financial assets at amortised cost |
160.0 |
440.0 |
| Non-current assets fair value through profit or loss |
131.3 |
90.4 |
| Other non-current financial assets excluding deposits |
32.4 |
29.3 |
| Total non-current investments (a) |
323.7 |
559.8 |
| Current financial assets at amortised cost |
349.0 |
253.0 |
| Current financial assets at fair value through profit or loss |
5.0 |
16.1 |
| Current derivatives |
0.8 |
0.9 |
| Total current investments (b) |
354.8 |
270.0 |
| Total current and non-current investments |
678.5 |
829.8 |
| Investments, cash equivalents |
185.0 |
121.2 |
| Cash at bank and in hand |
290.7 |
80.3 |
| Total cash and cash equivalents |
475.7 |
201.5 |
| Total gross investments and cash |
1,154.2 |
1,031.3 |
| Long-term financial debt |
546.1 |
205.0 |
| Non-current lease liabilities |
22.0 |
24.4 |
| Total non-current financial debt (c) |
568.1 |
229.4 |
| Short-term financial debt |
27.2 |
8.2 |
| Current lease liabilities |
7.2 |
7.0 |
| Current derivatives |
0.2 |
0.7 |
| Other |
130.5 |
170.5 |
| Total current financial debt excluding deposits (d) |
165.1 |
186.4 |
| Total financial debt |
733.2 |
415.8 |
| INVESTMENTS AND NET CASH |
421.0 |
615.5 |
| Payable to the French State with respect to the exclusive operating rights |
0.0 |
(380.0) |
| Reclassification of online players wallets not yet covered by trust |
0.0 |
(26.9) |
| Restricted cash |
(4.5) |
(5.3) |
| Sums allocated exclusively to Euromillions winners |
(72.6) |
(77.2) |
| Net liability associated with the permanent fund surplus |
(46.1) |
(46.1) |
| NET CASH SURPLUS |
297.8 |
79.9 |
(a) Non-current investments correspond to non-current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding Euromillions deposits and guarantee deposits
(b) Current investments correspond to current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding given deposits and guarantees
(c) Long-term financial debt corresponds to non-current financial liabilities (as set out in the notes to the consolidated financial statements – statement of financial position), excluding received deposits and guarantees
(d) Short-term financial debt corresponds to non-current financial liabilities (as set out in the notes consolidated financial statements – statement of financial position)
———————————————
1 Restated to reflect the new tax regime that came into force on 1 January 2020 and consolidating Sporting Group on a full-year basis. Based on 2019 reported figures, half-year revenue would have been down 10%.
Powered by WPeMatico
The Plaza Hotel & Casino will celebrate the start of every weekend this summer with a live fireworks show Friday nights at 9:15 p.m., beginning May 24 for Memorial Day weekend through Aug. 30 for Labor Day weekend.
Inspired by the fireworks shows at Disneyland, the Plaza’s Welcome to the Weekend Summer Friday Fireworks will light up the sky above downtown Las Vegas and be part of a festive summer block party atmosphere at the property’s Carousel Bar and rooftop pool deck.
“The Plaza is known for its great fireworks on New Year’s Eve and July 4th, but who says fireworks are only for those holidays?” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “This summer, we wanted to celebrate and give a gift to everyone downtown by sharing the excitement and fun of our fireworks shows with them every Friday night.”
“Las Vegas is the world’s destination because of all the spectacular attractions that are available here,” City of Las Vegas Mayor Carolyn Goodman said. “The Plaza is adding a new weekly fireworks extravaganza this summer, and everyone is invited to visit downtown Las Vegas and enjoy the show!”
Derek Stevens, CEO and Owner of Circa Resort & Casino said “The weekly fireworks show will amp up Fremont Street’s high-energy atmosphere to a new level. It’s a terrific addition for the entire neighborhood, providing another exciting reason for visitors to come downtown. Huge thanks to Jonathan and the Plaza team for bringing this idea to life. We’ll definitely be enjoying the show every week from Circa’s rooftop lounge, Legacy Club.”
The fireworks shot from the Plaza’s towers will be visible to the thousands of tourists and locals in downtown Las Vegas as well as for miles beyond. Plaza hotel guests will be able to enjoy the fireworks from an exclusive viewing party on its rooftop pool deck where the fireworks will be “ignited” by a special guest pushing a detonator button on an oversized TNT box.
To attract even more people to stay downtown, the Plaza introduced the only all-inclusive hotel room package starting at $125 per person per night. The package includes bottomless drinks, breakfast and dinner, a free bingo session, waived resort fees, and more. Rooms must be booked online by June 30 for a stay June 1 through July 1.
The Friday night rooftop pool party for hotel guests will feature the Frozen Firecracker, a special red, white, and blue cocktail made with strawberry daiquiri, pina colada, and blue lemonade spiked with Don Q Rum. At Carousel Bar the summer party vibe continues every Friday night with a DJ and the specialty cocktail Watermelon Agua Fresca made with Mi Campo tequila, Jägermeister, rose aperitivo, watermelon juice, chamoy, and aloe leaves as a garnish.
“Downtown Las Vegas is already a vibrant, unique, and exciting destination. Our Summer Friday Fireworks paired with our all-inclusive room package and great summertime block party atmosphere at Carousel Bar and the rooftop pool deck will be even more reasons to come downtown this summer,” added Jossel.
The Plaza’s fireworks will be dependent on weather conditions and are subject to change or cancellation.
Here are this weeks latest slots releases compiled by European Gaming
Habanero, is introducing the Reel Rewards feature in its new 6×3 reel slot Golden Taj Mahal. Paying homage to Indian culture, the game sees tigers, candles, precious gemstones, the prince and princess as well as the magic lamp Wild fill the grid as the slot’s symbols. At the top of the board, there are six empty spots which can be filled by the Reel Rewards mechanic on any spin, awarding a prize ranging from 2x, 3x or 5x multipliers to a Wild, which transforms all symbols below it.
After releasing the frenzy of a slot game that was Brick Snake 2000, the award-winning slot provider is now set to release Tombstone No Mercy an upgraded refresh of its 2019 hit slot, Tombstone. The 2024 refresh stays true to the original game and introduces Nolimit Bonus Buys and Nolimit Booster into the mix. With the introduction of Nolimit Bonus Buys, players can buy right into the bonus rounds; Justice Spins, Gunslinger
Games Global exclusive studio PearFiction Studios has unveiled its latest release, Cerberus Gold, incorporating three engaging LockNWin bonuses that can be combined for great win potential. This mythological title boasts an exciting triple collection mechanic that sees each collection pot protected by a head of the fearsome guardian of the underworld, Cerberus, who precariously sits above the reel set.
4ThePlayer in collaboration with Yggdrasil is unveiling its new release, 4K Ultra Gold MoneyWays, through the YGG Masters platform. This game evolves 4ThePlayer’s popular MoneyWays mechanic as seen in the top-performing 4 Fantastic series where cash on the reels is won by forming ways wins without the need for additional symbols or features. In 4K Ultra Gold, every cash symbol is boosted when it lands on the reels, creating additional excitement and anticipation.
Push Gaming has released the second in its series of DJ games, DJ Cat, which brings a range of new features to amp up engagement. Following the success of DJ Fox, this new follow-up retains the easy-to-understand, win-what-you-see gameplay, adding in larger win multipliers. Lining up CD symbols helps players to build big prizes while VIP icons grant access to spin the decks and feed the Multiplier Meter. Arrow symbols crank the volume and unlock more reels using the iconic Push-Up feature.
Inspired Entertainment is thrilled to announce its latest slot game, Spin 2 Riches™, now available the UK B3/LBO market. Offering players an unparalleled gaming experience filled with mystery symbols and Fortune Spins. Spin 2 Riches invites players to embark on a thrilling adventure where every spin brings the promise of untold riches.
PG Soft, a world-class digital mobile games company, is on target again with its latest fun-filled game release, Piñata Wins. Set against a vibrant fiesta backdrop, Piñata Wins is a five-reel and three-row title offering players a colourful gaming experience with plenty of features with an opportunity to make big returns from multipliers up to x100. The reels are brought to life with symbols that celebrate Mexican culture including tacos, maracas, skulls, sombreros and chillies.
Endorphina, has announced the release of its latest slot game, Moon Tiger, on April 17th. Featuring 5 reels, 3 rows, 25 fixed paylines, and cool bonuses, the slot will soon join Endorphina’s portfolio of over 150 games. Inspired by Chinese mythology, this slot embodies the legendary White Tiger, a creature born from a rare occurrence in the heavens.
Blueprint Gaming is inviting players to live like royalty and reign over Phrygia in its latest scatter-pay release, the Greek mythology-themed Midas King of Gold. Players attempt to turn every touch into gold in this 6×5 scatter pays title, with the King himself appearing in symbols on the game’s richly coloured board alongside royal pillars and ancient artifacts.
Playson, the fast-growing digital entertainment supplier, has combined the striking themes of its most successful games in its latest title Energy Joker: Hold and Win. With coins, electricity and a grinning joker, this fast-paced release has lightning running through its reels. The blue Collect feature strikes the cells and gathers all values, including the Mini, Minor and Major jackpots and Bonus symbols.
Spinomenal has released its new hit, Queen of the Amazon. Set amongst the lush rainforest, this 5×4 slot welcomes players on an adventure where treasure awaits intrepid explorers. A majestic Amazon headdress, tiger, gorilla, and snake, make up the Medium symbols on the reels. At the heart of the story stands the queen herself, representing the Wild symbol.
Embark on a thrilling journey across continents in 80 Day Escapade, the dramatic new slot from Boldplay that offers multiple features for endless excitement and rewards. With its 5×3 reels and 243 ways to win, players will enjoy a world of adventure and fortune but the real excitement begins with the set of exciting bonus features.
The post Week 16/2024 slot games releases appeared first on European Gaming Industry News.
Evoplay, the award-winning game development studio, has leveraged its position across Europe by taking its portfolio live with Light & Wonder’s leading aggregation platform.
Through this latest launch, over 100 of the provider’s dynamic titles will be made available on Light & Wonder’s global operator network including its Penalty Shoot-out instant game as well as top-performing slots The Greatest Catch Bonus Buy and Hot Triple Sevens.
The integration will see Evoplay boost its presence across a plethora of territories in Europe, including MGA-regulated markets, Italy, Portugal, the Balkans and the Baltics, where Light & Wonder’s platform is a top choice for tier-one operators.
Evoplay’s latest agreement underscores its commitment to becoming a leading supplier across Europe and follows significant commercial expansion in several key markets.
Ihor Zarechnyi, CBDO at Evoplay, said: “Evoplay’s latest landmark deal serves as a testament to the power of our dynamic portfolio. As we continue to excel across markets worldwide, we are delighted that Light & Wonder recognised the quality of our games and took them live on its platform.
“Light & Wonder has a vast market reach, which allows us to greatly expand our footing in Europe. Additionally, once we obtain the Canadian licence, we look forward to introducing our innovative content to an even wider audience of players.”
James Bustin, Commercial Director at Light & Wonder, added: “Thanks to its commitment to differentiation, Evoplay’s offering has proven to captivate players across Europe and we anticipate its games will perform just as well with our operator network.
“Forging new content agreements with suppliers such as Evoplay allows us to continue delivering fresh and exciting experiences to the market whilst elevating studios to an even bigger reach.”
The post Evoplay strikes distribution agreement with Light & Wonder appeared first on European Gaming Industry News.
-
Central Europe5 days agoNolimit City Announces Partnership with win2day
-
Compliance Updates5 days ago
Romania Bans Gambling Venues in Small Towns and Villages
-
Latest News5 days ago
NetBet Casino Partners with Nolimit City
-
Compliance Updates4 days ago
DGA: Three Orders and One Reprimand Issued to Mr. Green Limited for Breach of the Anti-Money Laundering Act
-
BIG Brazil4 days ago
NeoGames partners with BIG Brazil for its Caesars Brazil brand ahead of market opening
-
Asia4 days ago
China’s CBA League Extends Global Broadcast and Integrity Partnership with Sportradar
-
eSports4 days ago
eSports in the CIS region , Q&A w/ Viktor Block, Senior Sales Manager/PandaScore
-
Compliance Updates5 days ago
Sightline Selects GeoComply for Identity and Geolocation Compliance Services
