FL Entertainment emphasizes the “robust” 16% revenue expansion for its gaming subsidiary, Betclic, in a sturdy first quarter.
FL’s overall online sports wagering and gaming income expanded to €244 million in the initial quarter, up 14.5% annually.
Chief Executive Francois Riahi stated the company’s betting and gaming division continued to “perform admirably” during the quarter. He mentioned that the enterprise benefited from the positive influence of the 2022 FIFA World Cup, “resulting in double-digit revenue growth across all operations.”
The organization also observed a considerable increase in new active participants, up 55% annually. FL stated this was propelled by the football championship as well as a “successful cross-product sales strategy.”
All verticals witnessed growth during the period. The company’s sports betting income increased 11.3% to €194.8 million. Casino grew 31.6% to €30.6 million, while poker and other segments observed revenue increase 23.8% to €15.2 million.
Although FL’s sports betting business expanded at a comparatively slower pace, it accounts for the vast majority of the company’s income and growth.
FL emphasizes Betclic’s “robust” growth in a sturdy first quarter – Quarterly Results –
Home > Finance > Quarterly Results > FL emphasizes Betclic’s “robust” growth in a sturdy first quarter
In spite of this, the Bet-at-home division experienced a more moderate increase in income, falling by 0.7% annually. The firm introduced a new wagering and gaming platform on February 1st and stated it “anticipates influencing all nations beginning in the second quarter of 2023.”
As part of the organization’s dedication to accountable gambling standards, FL declared that the percentage of income produced in regulated markets has risen from 96.5% last year to 98.4%. The operator stated this was due to “Bet-at-home’s growth in regulated markets.”
“FL Entertainment had a positive start to 2023, with solid financial results and robust business drive,” said Riahi.
The group – which earns the majority of its income from content production and distribution – generated total income of €900 million in the first quarter.
Net earnings for the period decreased by 78.7% to €8.4 million, compared to €39.6 million in the same period last year.
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