Betting group FDJ United trims 2026 revenue, margin guidance
21/04/2026 18:21
April 21 - Betting group FDJ United FDJU.PA trimmed its full-year revenue and profit margin guidance on Tuesday as it posted a 3% drop in first-quarter revenue and grappled with tax challenges flagged at the start of the year. The downgrade reflects a broader reckoning across Europe, where betting operators are turning to consolidation to navigate fragmented and fast-moving tax regimes - from FDJ United's acquisition of Kindred in late 2024 to the pending merger of Banijay's BNJ.AS Betclic and Tipico. FDJ United's first-quarter revenue totalled 895 million euros ($1.1 billion). Online betting and gaming revenue was 213 million euros, down 8% on a like-for-like basis, still weighed by regulatory tightening in Britain and the Netherlands Online betting and gaming revenue excluding Britain and the Netherlands was stable, supported by more players in France and Sweden. French lottery and retail sports betting revenue fell 2% to 627 million euros. FDJ United revised its full-year 2026 guidance, now forecasting a slight revenue decline and a recurring EBITDA margin of 23% to 24%, versus a slight revenue increase and a recurring EBITDA margin of about 24.5% previously. The company announced the appointment of Dan Lévy as chief financial officer effective May 18. Lévy, previously CFO of Ipsos ISOS.PA, replaces Pascal Chaffard who has been appointed to different executive positions within the group. ($1 = 0.8516 euros) (Reporting by Leo Marchandon in Gdansk. Editing by Mark Potter) ((leo.marchandon@thomsonreuters.com))