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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

iGaming

N1 Insights April’s iGaming Trends You Shouldn’t Miss

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April reflects changes that began taking shape in iGaming back in the first quarter, but are only now becoming systemic. The market is gradually shifting away from short-term optimization toward more complex strategies, where performance sustainability, GEO diversification, and a reassessment of affiliate model efficiency play a key role.

In this issue of N1 Insights, N1 Partners experts analyze how traffic structures are evolving and which scaling approaches continue to deliver results amid increasing competition.

Part 1 

1. Traffic and performance

1.1 Traffic sources most likely to show the highest volatility in April
The highest volatility is expected from Facebook, TikTok, and PPC channels, as they are directly affected by changes in moderation, algorithms, and competitive activity. Additional fluctuations are anticipated in Google UAC, where auction costs traditionally increase in April due to intensified brand activity following the end of the first quarter.

1.2 Will brands shift their priorities between traffic volume and quality in April?
In April, many brands will begin shifting their focus toward traffic quality, based on first-quarter performance insights. Priority will be given to deeper metrics – from FTD to deposits and LTV – rather than simply chasing registration volume and initial conversions.

At the same time, in certain high-growth GEOs, there will still be a willingness to invest in volume in order to capture market share more quickly, even at the expense of short-term efficiency.

1.3 What will be more challenging in April: finding new scalable setups or maintaining current volumes?
Most likely, maintaining current volumes will become more challenging, especially in highly competitive GEOs. After an active first quarter, many proven setups are already overheated, while traffic costs continue to rise.

Finding new setups remains possible; however, scaling them will take more time due to increased competition and higher requirements for traffic quality.

1.4 Changes in testing strategies for new GEOs and traffic sources in April
Affiliates are likely to shift toward shorter testing cycles and reduce test budget volumes in order to adapt more quickly to changing market conditions.

“At the same time, interest in traffic source diversification will increase: beyond the classic Facebook and Google channels, we expect a growing number of tests in alternative social platforms,” comments Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

1.5 Key metrics for scaling up or cutting caps
Key metrics will continue to include CR, ROAS, ARPU, retention, and player LTV, but their role in decision-making will become even more significant. Teams will increasingly shift from evaluating “input” metrics to analyzing audience quality and long-term value.

In particular, scaling decisions will be based on early LTV signals and user behavior patterns, rather than solely on FTD volume. This will allow teams to identify underperforming setups earlier and reallocate budgets toward more sustainable traffic sources.

2. GEO priorities

2.1 GEOs that may see the highest traffic growth in April
In April, several Tier-1 countries are expected to show the strongest growth, primarily Canada, Germany, and Australia, where demand for online gambling remains stable and major brands continue to increase their marketing budgets. Growth may also be observed in Latin America (Brazil, Peru, Chile).

At the same time, some affiliates will continue scaling in Eastern Europe and CIS countries, where competition is lower than in Tier-1 markets and it is easier to test new setups.

2.2 Will the approach to Tier-1 markets change compared to Q1 2026?
The approach to GEO selection will become more selective and pragmatic. Many teams will maintain their focus on Tier-1 markets, but with stricter ROI control amid rising traffic costs and decreasing predictability of results.

At the same time, a partial budget reallocation is expected in favor of GEOs with more favorable scaling conditions – lower competition and more affordable auction dynamics. As a result, strategies will increasingly balance between the stability of Tier-1 markets and growth opportunities in less saturated regions.

2.3 Regions where the cost of player acquisition is expected to change the most
The most noticeable increase in CPA is expected in Tier-1 markets – primarily Canada, Germany, and Australia. In these GEOs, player acquisition costs are likely to continue rising amid intense competition and increasing pressure from large media buying teams.

“An additional factor will be the concentration of budgets after the first quarter: major players are scaling more aggressively, which overheats the auction and reduces the effectiveness of standard traffic acquisition approaches,” notes Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

As a result, the entry threshold for new campaigns is rising, and achieving target metrics will require more precise optimization and stronger setups.

2.4 Key GEOs for growth at the beginning of Q2
Key GEOs may include several Tier-1 markets such as Canada, Germany, and Australia, as well as a number of Tier-2 and Tier-3 countries, including Brazil, India, Turkey, Kazakhstan, and Chile.

These countries remain a priority for many brands due to strong purchasing power, higher player LTV, and stable demand for licensed products. Despite high competition and traffic costs, Tier-1 markets continue to attract large affiliate teams, as with proper optimization they offer the most sustainable long-term profitability.

3. Affiliate Marketing Dynamics

3.1 How will the balance between new partners and established affiliate teams change in April?
The market will continue to consolidate around large and experienced teams that have the resources for scaling, optimization, and rapid budget reallocation. Their advantage will strengthen due to accumulated expertise, access to data, and more stable traffic acquisition processes.

At the same time, new teams will continue to emerge; however, the barrier to entry will keep rising. Without access to unique traffic sources, technological advantages, or niche expertise, it will become increasingly difficult for them to compete with established players and reach comparable volumes.

3.2 Changes in affiliates’ approach to selecting partner brands
Affiliates are increasingly shifting their focus toward non-financial factors when choosing partners – primarily brand reputation, payment reliability, and transparency of statistics. These criteria are becoming critical amid rising risks and the instability of certain offers.

As a result, the trend toward long-term partnerships is strengthening: more teams are favoring sustainable collaboration models over short-term offers with potentially high but unpredictable payouts.

“This approach reduces operational risks and enables building a more stable long-term unit economics,” says Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

3.3 Types of partners that will see the most active growth in April
Media buying teams working with paid traffic will continue to grow most actively, along with content affiliates and SEO-driven projects focused on long-term organic traffic acquisition. These models remain key due to their scalability and more predictable long-term economics.

At the same time, growth in alternative sources is accelerating – particularly influencer and Telegram traffic, which attract affiliates with help of flexibility, a lower barrier to entry, and the ability to test hypotheses more quickly.

3.4 What changes in partner behavior are likely to be most noticeable in April?
Partners will increasingly diversify their traffic sources and GEOs to reduce dependence on any single channel. More cautious scaling and deeper analysis of unit economics can also be expected, especially in light of first-quarter results.

Part 2

1. PR trends

1.1 Top PR trends in April 2026
In the second quarter, PR activity noticeably picks up: after revisiting strategies at the beginning of the year, brands start engaging more actively with media and building more structured communication. Against the backdrop of increasing competition, having a strong offer alone is no longer enough – what matters is how the brand presents itself and what it communicates.

“At the same time, formats are also evolving: traditional press releases are gradually taking a back seat, giving way to case studies, interviews, and more ‘authentic’ content,” says Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

The market is saturated, so those who deliver real value and communicate with their audience not in abstract terms, but through experience and concrete results, are the ones who win.

2. Brand marketing strategy

2.1 Which aspects of marketing strategy should brands focus on in April amid increasing competition?
The key focus should be on differentiation through brand positioning, not just through offer terms. In a market saturated with similar propositions, partners begin to make decisions based not only on numbers, but also on trust and stability.

This is reflected in affiliate behavior: strong partners are more likely to work with brands that have a clear reputation and predictable processes.

2.2 What changes in marketing strategy should brands consider in April to maintain a competitive advantage?
Companies are gradually shifting their focus from short-term acquisition to long-term partner retention, strengthening efforts in content, PR, loyalty programs, and community development. This approach not only reduces dependence on a constant influx of new affiliates but also improves the quality of engagement with existing partners.

This shift is largely driven by market saturation: acquisition costs continue to rise, while competition for active affiliates intensifies.

“In such conditions, retaining and developing the existing partner base becomes strategically more effective than aggressively acquiring new partners, especially given the increasing demands for transparency, support, and level of service,” notes Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

2.3 How can marketers find the right balance between short-term results and long-term brand development?
The balance is achieved through a combined strategy: performance drives immediate results, while brand communications ensure long-term stability. If a brand focuses only on short-term gains, it becomes vulnerable in a highly competitive environment.

2.4 The most effective approaches to marketing budget allocation in Q2
In the second quarter, many companies begin reallocating budgets toward a more diversified strategy. In addition to performance channels, there is increased investment in PR activities, content marketing, and event participation.

This shift is driven by the fact that relying solely on paid traffic is becoming less stable, prompting brands to seek ways to strengthen their organic presence and build trust.

  1. Marketing challenges

3.1 What new challenges may marketing teams face at the beginning of Q2?
The key challenge remains the growing competition for partner attention, making it increasingly difficult for brands to differentiate themselves amid similar terms and offers. In an oversaturated market, standard acquisition tools are no longer delivering consistent results.

As a result, marketing teams are forced to shift their focus from purely commercial terms to building reputation, improving communication quality, and shaping overall brand perception. This includes more systematic work with content, greater transparency in interactions, and the development of long-term relationships with partners.

3.2 Which marketing strategies may become less effective in April?
Approaches based solely on financial terms are gradually losing effectiveness. When many programs offer similar payouts, partners begin to pay attention to other factors – such as brand reputation, quality of support, and operational stability.

3.3 Will it become more difficult to attract strong partners amid the large number of affiliate programs on the market?
This is largely due to the fact that strong affiliates have already formed a stable pool of partners and have become significantly more selective when choosing new brands. Decisions are increasingly made not only based on terms, but also considering reputation, stability, and quality of interaction.

In practice, this results in a longer onboarding cycle: new programs require more time to pass the evaluation stage and build trust. As a result, partnership launches slow down, and affiliate expectations become more demanding.

3.4 What signals in April may indicate that brands should reconsider their marketing strategy?
A decline in partner engagement, weak response to new products, and lack of brand visibility in the media are key signals.

“This is due to the fact that in a highly competitive environment, even a slight drop in activity quickly impacts a brand’s position,” says Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

April confirms a key shift in the iGaming market: increasing competition and rising traffic costs are driving higher demands for quality, sustainability, and a more strategic approach to marketing. Quick tactics and short-term solutions are gradually giving way to more systematic efforts – with a focus on LTV, partner retention, and traffic source diversification.

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The post N1 Insights April’s iGaming Trends You Shouldn’t Miss appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Africa

TaDa Gaming Officially Enters the Regulated South African Market

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TaDa Gaming has reinforced its presence and brand in African iGaming through its latest entry to the regulated South African market.

SA is currently considered the most mature market in Africa with strong internet penetration, high smartphone usage and higher disposable income per capita.

With potential regulation change under debate, new laws would enable a regulated market model to be in place within the next few years. Reputable industry sources have projected approximately €3.9 billion ($4.2 billion or around R80 billion) in annual gambling revenue by 2030, making it a significant growth market.

TaDa began its African journey in 2024 with betPawa, the largest gaming platform on the continent. This gave TaDa access to over 15 countries including Nigeria, Kenya, Ghana, Uganda and Tanzania.

Furthermore, TaDa honed its knowledge of individual African countries’ regulations, cultural mores and player behaviours alongside a dedicated programme to reduce size and loading times for mobile first games in line with local infrastructure limitations and player device types but with no adverse effect on quality or entertainment value.

Enhanced by its roster of international gaming licences, TaDa is known for its expert “glocalisation” or global core mechanics/local content strategic approach to new markets. With a significant Crash portfolio and award-winning gamification tools, TaDa has quickly built a name for innovative and immersive gaming experiences among African players.

In 2025, SiGMA Africa voted TaDa as Best Slot Newcomer through games such as the renowned Fortune Gems series; Crazy 777, Coin Tree and global hit Devil Fire 2. Subsequent hit releases certified for SA also include 40 Sparkling Crown and Rapid Gems 777.

Armed with this know-how and brand awareness, TaDa is a valuable partner and the regulated South African market has responded positively. With leading operator and platform collaborations and partnerships in place, TaDa has begun to build its brand for immersive gaming across SA.

As the largest and most established iGaming ecosystem on the continent, SA continues to be a key destination for TaDa across 2026 and beyond. In anticipation that South Africa will follow the UK and Ontario’s lead in regulations in the long-term, providers like TaDa who hold both UKGC and AGCO licences are expected to be in demand with operators and players alike.

Ray Lee, Director of Business Development at TaDa Gaming, said: “Having polished our skills and know-how across multiple emerging African markets over the last year, we are confident that our localised and certified content will quickly resonate with players in South Africa. Launching with market leaders enhances our credibility for delivering visibly fair and high quality gaming experiences while our regulated approach will stand us in good stead for the future.”

The post TaDa Gaming Officially Enters the Regulated South African Market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gambling in the USA

PENN to Open the New Hollywood Casino Aurora to Public on June 24

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PENN Entertainment Inc. has announced that it expects to open the new land-based Hollywood Casino Aurora to the public on Wednesday, June 24, pending customary regulatory approvals. This will be the second all-new PENN property to open in the Chicagoland region following the grand opening of the land-based Hollywood Casino Joliet in August 2025.

The new $360 million entertainment destination is being developed across from Chicago Premium Outlets, located near Interstate-88 in Aurora. The state-of-the-art property will feature a luxurious hotel, more than 1200 gaming positions, a retail sportsbook, outdoor entertainment area, full-service spa, premium bars and restaurants, a 12,000 square foot event center and approximately 1700 parking spaces. The Company expects to employ approximately 700 team members at the new casino, which nearly doubles PENN’s existing employee roster in Aurora.

“We are now months away from opening another premium entertainment destination in the greater Chicago region. We are thrilled to follow the successful rollout of Hollywood Casino Joliet last summer with another new land-based property, strengthening our overall retail portfolio in the Midwest and deepening our roots in the community,” said Jay Snowden, CEO and President of PENN Entertainment.

Hollywood Casino Aurora will feature an upscale 226-room hotel offering a variety of standard rooms and suites, as well as a beauty and wellness space, Drift Spa.

The new property will also be outfitted with numerous world class dining experiences for guests to enjoy. As previously announced, PENN has partnered with celebrity chef and entrepreneur Giada De Laurentiis to open Sorella by Giada. The Italian-California fusion restaurant will offer approximately 170 seats for indoor and outdoor dining, a contemporary bar and private dining options.

Boulevard Food & Drink Hall, operated by McClain Camarota Hospitality (MCH), will include Lucky Goat by celebrity chef Stephanie Izard; Five50 Pizza, a pizza concept from the renowned chefs at MCH; and Chicago favorites Antique Taco and Pretty Cool Ice Cream. Additional restaurant partners that will be unique to Aurora’s Boulevard Food & Drink Hall will be announced in the coming weeks.

“These popular restaurateurs will provide our customers with amazing dining options at the new Hollywood Casino Aurora. Together with our hotel, event center, spa and additional amenities, patrons will experience a vibrant atmosphere at this new area attraction,” said Rafael Verde, Senior Vice President of Regional Operations at PENN Entertainment.

The 12,000 square foot event center will be equipped to host a variety of events, including meetings, conferences, weddings, galas, entertainment and more. Entertainment bookings are already underway, and the first public events will be announced soon.

Additional details related to the grand opening of the new casino will be provided in advance of June 24. The Company expects to work with the Illinois Gaming Board on the transfer of operations from the existing Hollywood Casino Aurora, which is located on the Fox River in downtown Aurora, to the new landside facility as the opening date nears.

In conjunction with this $360 million project, PENN expects to receive $225 million in funding from Gaming and Leisure Properties Inc. near the project’s opening, at a 7.75% capitalization rate. By the end of the year, the Company also expects to receive the remaining $21 million of the $50 million in funding being contributed by the City of Aurora by year end.

The post PENN to Open the New Hollywood Casino Aurora to Public on June 24 appeared first on Americas iGaming & Sports Betting News.

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