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La Française des Jeux : Revenue up 4% in Nine Months: Acquisition of ZEturf Completed at the End of September Acquisition of PLI to Be Completed in Early November

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La Française des Jeux (FDJ), France’s leading gaming operator, announces its revenue for the nine months to end September 2023.

Stéphane Pallez, Chairwoman and CEO of FDJ Group, said: “Our growth remains solid, with strong players’ demand, even though it has been affected by the low number of Euromillions high jackpot draws. At the same time, the completion of the acquisition of ZEturf at the end of September and the forthcoming closing of Premier Lotteries Ireland acquisition in November illustrate our strategy of internationalisation and diversification. We are delighted that the teams of these two operators are joining FDJ and that these operations will contribute to the Group’s sustainable and profitable growth.”

  • Revenue to end September of €1,875 million, up 3.9% and 1.3% on a like-for-like basis

At the end of September, gross gaming revenue (GGR) stood at €4,808 million, stable compared with 2022. After €3,044 million in public levies, net gaming revenue (NGR)3 totalled €1,771 million, up 0.8% based on a 2.0% increase in stakes.

Including income from other activities of €103 million, up more than 10% on a like-for-like basis, Group revenue to end September 2023 came to €1,875 million, up 3.9%.

On a like-for-like basis, sales rose by 1.3%. It rose 4.6%, in line with the first half, excluding Euromillions, which was particularly affected by the low number of high jackpot draws, especially in the 3rd quarter, and excluding Amigo, which was relaunched at the beginning of June with a revised formula in accordance with the regulator’s decision.

In the 3rd quarter, revenue totalled €586 million, down 1% and 3% on a like-for-like basis.

  • By distribution channel and activity
    • By distribution channel

Stakes in points of sale increased 0.8% to €13,278 million, supported by sports betting and instant games, and despite Amigo and Euromillions impact.

Digital stakes are continuing to grow, driven by all businesses. They were up 10.6% to €2,011 million, a performance attributable in large part to the increase in the number of players. Excluding Euromillions, online lottery stakes rose by more than 12%. Online stakes account for more than 13% of total stakes.

  • Lottery

Lottery revenue totalled €1,407 million down 1.2%, based on a slight increase in stakes, but up 3% excluding Amigo and Euromillions.

Driven in particular by the success of launches and relaunches, such as Carré Or in January and Numéro Fétiche in May, instant games stakes rose by more than 4%.

The almost 6% drop in the stakes for draw games is attributable to the lower number of high jackpot Euromillions draws (19 at 2023 September-end compared to 32 at 2022 September-end), particularly noticeable in the third quarter, and the full impact of the new Amigo draw launched at the beginning of June and in line with the decision of the French National Gaming Authority.

Excluding Euromillions and Amigo, draw stakes are up 1% and lottery stakes more than 3% compared with 2022, an “exceptional” year for draw games, especially Euromillions with stakes up by almost +20% to the end of September 2022. Overall, the appeal of this game remains strong, with stakes up by almost +10% compared with 2019, following its relaunch in the first quarter of 2020.

The discrepancy between growth in stakes and growth in revenue is mainly due to Euromillions, which has a high rate of conversion of stakes into revenue.

  • Sports betting and online gaming open to competition

Revenue of sports betting and online gaming open to competition totalled €360 million, an increase of 9.3% in line with growth in stakes. The player payout ratio in the third quarter is very close to that at the end of June and that recorded at the end of September 2022.

Business growth, strong both at the point of sale and online, benefited from the continuing momentum of the FIFA World Cup at the end of 2022, despite a slightly less favourable football calendar in the 3rd quarter of 2023.

The acquisitions of ZEturf and Premier Lotteries Ireland (PLI) strengthen FDJ’s model

  • ZEturf completes FDJ’s online gaming offering, making it the 4th largest operator in the French sports betting and online gaming open to competition, with a market share of over 10%

ZEturf is the 2nd largest online horse betting operator in France, with a market share of around 20%. This acquisition enables the FDJ Group to become the 4th largest competitive online gaming operator in France (sports betting, horse betting and poker), with a market share of over 10%. Finalised at the end of September, this acquisition has been consolidated in FDJ’s accounts since 1 October.

In order to benefit fully from the potential of the merger with ZEturf and the synergies within its online business open to competition, and in accordance with the commitments made to the French Competition Authority, FDJ will adopt a new organisation for this business.

With 2022 revenue exceeding €50 million, ZEturf:

– Doubles the revenue of FDJ’s online gaming business open to competition;

– And will have an accretive effect on the sports betting and online gaming open to competition BU’s contribution margin from 2025.

  • PLI: First step in the international B2C lottery with strong prospects

The acquisition of Premier Lotteries Ireland, the Irish national lottery operator, is a major step in the deployment of the FDJ Group’s international strategy. On 3 October, the Irish lottery regulator gave the go-ahead for the deal, which is due to be finalised in early November, when PLI will be consolidated by FDJ.

In 2022, Premier Lotteries Ireland recorded gross gaming revenue (GGR) of €399 million and revenue of €140 million, with an EBITDA margin comparable to that of FDJ.

The strategic plan currently being drawn up jointly aims to accelerate PLI’s growth and increase its profitability, based on sharing best practice between the two operators in order to:

– Capitalise on FDJ’s experience to drive PLI’s instant games portfolio;

– Boost the player base for draw games;

– And continue to improve the digital experience for Irish players.

2023 Outlook

In Q4, the Group expects:

– In sports betting and online gaming open to competition, sales virtually unchanged, reflecting the continued momentum since the start of the year, with a high basis for comparison due to the FIFA World Cup at the end of 2022;

– And for the lottery, sales growth driven by non-Amigo draw games, with several events including the launch of the EuroDreams draw game, and by instant games.

For 2023 as a whole, FDJ is targeting revenue growth of around 5%, i.e. between 1.5% and 2% on a like-for-like basis, with a current EBITDA margin rate maintained at around 24% thanks to tight control of costs.

– At the end of July, the Group had announced 2023 revenue growth targets of over 5%, and over 3% on a like-for-like basis, with a current EBITDA margin maintained at around 24%.

The Group will also benefit from a high level of financial income, expected to almost double the figure recorded at the end of June, and reiterates its commitment to distribute between 80% and 90% of its consolidated net income.

The Group’s next financial communication

The Group will report its 2023 results on Thursday, 15 February 2024, before market opening.

Appendix

In millions of euros

Q3 2023

Q3 2022

Var.

Stakes

4,802

4,945

-2,9%

o/w online stakes

679

643

+5,6%

Revenue

586

592

-1,1%*

o/w lottery

449

478

-6,0%

o/w sports betting and online gaming open to competition

103

97

+6,4%

*-3.4% vs. Q3 2022 pro forma, including the acquisitions of Aleda and L’Addtion

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The Golden Boomerang League winners, sports traffic tournament from Boomerang Partners shared their impressions

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October 31 marked the conclusion of the first season of Golden Boomerang League, an affiliate tournament for sports traffic by Boomerang Partners. The company named the winners in a ceremonial setting on its stage during SiGMA Central Europe in Rome, on November 4th. They became:

  • QQMedia
  • Apex Media
  • Luis Xavier

These teams made it among the 68 participants who managed to generate 20+ FTDs on sports brands from Boomerang Partners’ client portfolio over the two months of the tournament and reached the final draw. Their leaders shared their emotions and impressions.

QQmedia and their unique traffic driving concept

Taking the top spot and winning a direct ticket to the Golden Boomerang Awards 2026 (a global, annual affiliate traffic tournament by Boomerang Partners), QQmedia has proven its elite status in the industry. For the team, this victory was a validation of their unique approach and a reason for a well-deserved celebration in Cyprus.

“The win means a lot to us because it proves our concept. The way we drive traffic is unique; nobody does it like we do,” stated the CEO of QQmedia. The team’s success was driven by a forward-thinking strategy that many competitors are yet to embrace. “I think most people still live in the past… In my opinion, marketing has changed a lot. Influencers are now more powerful than major athletes or actors… We have and that’s why we’re doubling down on influencer marketing,” he revealed.

When it comes to sports traffic specifically, QQmedia leverages this by collaborating with former athletes-turned-influencers, which they note delivers “some of the best conversion rates in the entire industry.”

Looking ahead, the CEO of QQmedia is thrilled about his team automatic qualification for the Golden Boomerang Awards 2026. He recalled the previous event as a “10/10 experience.” Their strategic goal for 2026 is to forge an exclusive partnership in 2026 to focus their power and push one brand to the maximum. The CEO added that the competition itself was highly motivating for the entire team. He described the Golden Boomerang League experience in one word: “Inspiring.”

Luis Xavier builds a strong connection with the target audience

Luis Xavier secured an unforgettable prize: the AC Milan Experience package, including paid flight, accommodation, and attendance at an AC Milan home match at San Siro Stadium in Milan. This became possible thanks to the fact that Boomerang Partners is the Official Regional Partner of AC Milan.

“This victory means a great deal. It reflects all the dedication and ambition in the work done until today,” said the CEO of Luis Xavier. Their approach is straightforward but powerful. “It’s not a matter of strategy. When you know you have to achieve a goal, you just do it. We only stop when it’s accomplished.”

This determination extends to their work with sports traffic, where they believe the ultimate challenge – and key to success – is achieving a strong, genuine connection with the target audience.

Personally, the CEO of Luis Xavier, a huge football fan, looks forward to the Milan trip as a unique reward. He’s already decided his wife will join him, making it a personal celebration of a job well done. For his team, this victory serves as a powerful motivator, proving that “without dedication, nothing is achieved.”

Apex Media is aiming to diversify, and grow globally

Apex Media also scored the AC Milan Experience package. The win has deepened their commitment to their partnership with Boomerang Partners.

“I’m so emotional about the new trip that is coming,” shared the Head of Sales at Apex Media’. “The fact that we won this competition only inspired us to continue working with Boomerang Partners, maybe even more.”

As a team of passionate football fans who recently attended an AC Milan match versus AS Roma, this prize is a perfect fit. The trip to Milan holds special significance for their fully remote team. It serves as a powerful bonding opportunity. “I cannot wait to spend beautiful moments in this town and bring our whole team together,” the Apex Media’ Head of Sales added.

Looking forward, Apex Media plans to build on this success by focusing on constant growth, diversification, and global expansion.

There are more to come

Golden Boomerang League became Boomerang Partners’ first affiliate tournament with focus only on sports traffic. The company continues its course toward the status of leading sports affiliate program in the industry, and it has many plans for 2026. Follow the news on the official website and social networks of the agency.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

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Anthony Dalla-Giacoma

Swintt serve up a new holiday slot with all the trimmings in Extra Win X Thanksgiving

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Sought-after software provider’s reimagined retro classic delivers a flavourful feast of rewards as full table wins help players on the way to massively multiplied prizes

Get ready to gather the family around the table and celebrate the harvest season in style in Extra Win X Thanksgiving – the new holiday-themed twist on Swintt’s classic retro slot formula where landing full table wins can lead to massively multiplied payouts.

As the latest release in the software provider’s popular Premium range, Extra Win X Thanksgiving combines simple gameplay across three reels and five fixed paylines with a distinctive autumnal aesthetic as golden turkeys, plump pumpkins and cornucopias award huge wins of up to 20,000x.

Building on the popular prize wheel format found in other Extra Win games, in order to unlock Extra Win X Thanksgiving’s most bountiful rewards, players will need to completely fill the reels with any one symbol to activate a bonus round where their winnings can be multiplied indefinitely.

Whenever this happens, all regular payline wins will be calculated and players will be transported to a new screen where they’ll be prompted to spin a wheel to further improve their rewards. With initial prizes including a standard 1x win and a healthy 2x multiplier, players will be able to keep spinning until they land a red “end” segment, at which point they’ll be returned to the base game.

Each wheel will also display an Extra Win X symbol, and if players are lucky enough to land on this special segment, the value of all multipliers will be enhanced and they’ll be able to keep on spinning. Again, this process will continue until they’re forced to exit the bonus round or the max win has been achieved, but all smaller prizes can also be gambled in an additional “Risk” feature.

Anthony Dalla Giacoma Chief Commercial Officer: “Thanksgiving is a time where millions of families across the U.S. gather to enjoy a smorgasbord of tasty treats – and to mark the occasion, we’re serving up all manner of mouthwatering rewards in a new, holiday-themed edition of our popular Extra Win X series . Featuring the same great mechanics as the original game and an improved top prize of 20,000x, we’re sure it’ll give players and operators plenty to be thankful for.”

The post Swintt serve up a new holiday slot with all the trimmings in Extra Win X Thanksgiving appeared first on European Gaming Industry News.

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3 Oaks Gaming

Assessing the Greek iGaming market’s potential

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Greece has quickly become one of Europe’s most closely watched regulated iGaming markets, blending high player engagement with an increasingly mature licensing framework. In this roundtable, Christos Zoulianitis, Chief Commercial Officer at ENJOY, Tassos Theocharidis Senior Sales Executive at Altenar, and Iulian Nedelcu, Account Manager at 3 Oaks Gaming examine the market’s evolution, the trends shaping Greek player behaviour, and the opportunities now open to operators and suppliers, while assessing the regulatory and commercial challenges that will define the next phase of growth.

How has the Greek iGaming market developed over the past few years, and what changes have made the biggest difference?

C: The Greek iGaming market has transformed significantly in a relatively short time. The introduction of a clear and consistent licensing framework has provided the stability needed for long-term growth, giving both operators and suppliers the confidence to invest. From a supplier’s perspective, this regulatory clarity has been instrumental in attracting greater innovation and competition. The influx of new licensees underlines the market’s growing appeal, confirming Greece’s status as one of Europe’s most dynamic regulated markets.

T: Following the launch of Greece’s regulated market in 2021, it has stabilised significantly, with more than two dozen licensed operators now active and licensed by the Hellenic Gaming Commission (HGC). Four years on, Greece’s GGR has grown by more than 25%, with online platforms powering that growth. Since obtaining our Greek licence in May last year, we have witnessed its high potential, with the market’s regulated GGR reaching €751.6 million. This demonstrates the huge potential for licensed operators and suppliers looking to achieve growth in the jurisdiction.

I: The Greek iGaming market has gone from something that seems like the “wild west” to a fully regulated playground. The biggest game-changer was licensing – suddenly, both players and operators knew the rules of engagement. Combine that with stricter compliance, stronger player protections, and improved tech infrastructure, and you have got a market that feels solid and sustainable, one that has matured into a competitive environment where quality and localisation matter more than ever. In short, regulation has turned something that seemed chaotic into a place of ample opportunity.

From a player perspective, what trends or behaviours stand out in Greece compared to other European markets?

C: Greek players are among the most passionate and engaged in Europe, particularly in sports betting and casino entertainment. There is a strong demand for immersive, entertainment-led experiences, especially within live casino and slots. Localisation plays a major role in the live environment – Greek-speaking presenters, for instance, drive deeper connection and retention. Interestingly, while tailored live content performs strongly, slots with wider European themes also enjoy success without the need for heavy localisation. Overall, Greek players are highly discerning and place strong emphasis on quality, fairness and trust – often judging an operator by the strength of the suppliers it partners with.

T: Greek players exhibit distinctive behaviours compared to other European markets, with a rich history of playing games of chance. Sports betting, particularly football and basketball, remains the most popular vertical, and contributes nearly half of all online wagering turnover. There has also been a strong uptake of mobile and live products. Over 60% of iGaming activity now occurs via smartphones, and in-play betting has become one of the key engagement drivers.

This is an area we have heavily invested in at Altenar, and our intelligent bet acceptance logic has improved the user experience by minimising the number of bets which are rejected due to a live bet delay. The unique algorithm means bets can still be placed during a live event if there is no significant change to the odds. The use of official data from the industry’s leading providers also helps to ensure live betting windows are extended and cashout availability is improved.

Compared to other European markets like Italy or France, Greek players tend to bet smaller amounts but more frequently, emphasising the social and entertainment value of betting over purely transactional motives.

I: Greek players are passionate and extremely loyal, they gravitate toward engaging features and jackpots, but what really sets them apart is their appetite for localised content and games that feel culturally familiar, relevant and immersive. They want entertainment with personality, not just another spin on the reels. When features speak the language of Greek players, both culturally and experientially, they drive ongoing engagement rather than a single interaction.

What opportunities do you think the Greek market will offer in the coming years?

T: In line with expected annual growth of around 3.5% up to 2029, the market presents significant opportunities in several areas, and is expanding with a highly engaged player base, long-standing cultural acceptance of gambling and well-developed technical infrastructure.

More so than ever, localisation is key, with Greek language support and tailored payment systems in high demand. Additionally, retail-to-online integration and software expertise are essential to help operators compete.

I:
The opportunities are plentiful if you play it smart. Mobile-first experiences will dominate, as Greek players increasingly engage on the go. Localised campaigns alongside tailored jackpots and features will set successful brands apart. There is also room for growth in gamification and responsible play tools, which are increasingly valued. In short, the companies that succeed will be those that combine smart innovation with a genuine understanding of Greek player preferences. A generic slot experience simply is not enough anymore.

C: As more casinos go live under licence, competition is intensifying, opening fresh opportunities for content providers to help operators stand out. Exclusive titles, premium live content, and branded formats are all becoming key differentiators. For suppliers, there is also scope to add value through localised experiences and innovative promotional features that enhance engagement. With a robust regulatory base and consistent year-on-year growth, Greece is shaping up to be one of Europe’s most promising markets for operators and suppliers alike.

Looking ahead, what hurdles do you think the market will face in the coming years?

T: Despite growth, the market faces some structural challenges. High taxation, with GGR tax rates of up to 35%, among Europe’s highest, compresses operator margins. Meanwhile, illegal gambling continues to siphon away 10% of total wagers, prompting the HGC to establish a dedicated task force to curb unregulated activity.

The need for a refreshed regulatory framework has also become urgent. The HGC itself has noted the limitations of the current structure and advocates for a system ‘built from the ground up’ to align with international best practices.

I: The hurdles are quite clear: stricter regulations, heavier compliance burdens, market saturation, and the not-so-small matter of Greek taxation. Operators will also need to constantly balance innovation with responsibility. Yes, players want excitement, but regulators want safety. Add in fierce competition, and the market can feel like a marathon. The key challenge will be differentiation and standing out without cutting any corners. Those who prioritise sustainable strategy, localised insight and long-term trust will be the ones who move ahead.

C: Despite the strong trajectory, the market is not without its challenges. High taxation, rising operational costs, and strict compliance requirements all put pressure on margins – particularly for smaller operators and studios. Suppliers also face lengthy approval processes from the HGC, which, since 2023, have become more time-consuming. Even so, these measures ultimately uphold market integrity and professionalism, helping to ensure Greece’s long-term sustainability as a regulated market.

With factors such as high taxes and increasing competition, how do you see these shaping the future of the Greek iGaming market?

I: High taxes and competition may seem like a headache, but they are in fact forcing the industry to evolve. Margins are tighter, so operators must focus on efficiency, smarter marketing, and player retention rather than quick wins. Competition, meanwhile, drives creativity and innovation – only the best survive. The result? A leaner, more sophisticated market where localisation, responsible play, and strong brand identity separate the leaders from the pack.

C: These pressures are likely to accelerate the market’s evolution towards greater maturity. Operators will prioritise sustainable growth, efficient operations, and long-term partnerships with trusted suppliers. High-quality, localised content will remain a central advantage, while innovation in promotions and player engagement will continue to separate market leaders from the rest. Despite the challenges, the steady influx of new licensees and consistently high player demand underscore Greece’s strong potential – a compact yet high-performing market that continues to deliver impressive annual results.

T: In the years ahead, Greece’s iGaming ecosystem will reflect the tension between innovation and regulation. High competition and tax pressure will likely push smaller firms out of the market, favouring operators that invest in responsible gaming, advanced technology, and product differentiation.

However, the fundamentals remain promising. With high internet penetration, a digitally engaged population, a clear licensing regime, and a growing reputation as a Mediterranean hub for gaming innovation, Greece’s iGaming market is well-positioned to sustain steady, high-quality growth.

The post Assessing the Greek iGaming market’s potential appeared first on European Gaming Industry News.

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