The firm emphasized that its gaming branch, Betclic, accomplished a strong 16% increase in earnings during a steady first quarter.
FL’s total earnings from its online sports wagering and gaming division climbed to €244 million in the initial three months, representing a 14.5% rise compared to the same period last year.
The company’s CEO, Francois Riahi, stated that the firm’s betting and gaming division continued to perform well during the quarter. He added that the business benefited from the positive impact of the 2022 FIFA World Cup, leading to double-digit revenue growth across all operations.
The company also observed a significant rise in new active participants, up 55% year-over-year. FL attributed this to the football tournament, as well as the company’s effective strategy of cross-selling other products.
FL’s First-Quarter Segment Growth
All areas experienced growth during the period. The company’s sports wagering revenue increased 11.3% to €194.8 million. Casino revenue expanded 31.6% to €30.6 million, while poker and other segments saw revenue increase 23.8% to €15.2 million.
Although FL’s sports betting business grew at a relatively slower pace, it accounts for the majority of the company’s earnings and growth.
In spite of this, the Bet-at-home segment experienced a decrease in revenue growth, falling by 0.7% annually. The enterprise introduced a fresh betting and gaming platform on February 1st, declaring that it “anticipates a positive effect in all nations commencing from the second quarter of 2023.”
As a part of the organization’s dedication to accountable gambling standards, FL disclosed that the percentage of revenue produced from regulated markets has increased from 96.5% in the previous year to 98.4%. The operator stated that this was due to “Bet-at-home’s expansion in regulated markets.”
Riahi remarked: “FL Entertainment has experienced a favorable start to 2023, characterized by robust financial performance and strong business drive.”
The conglomerate – whose income is primarily generated from content production and distribution – recorded a total revenue of €900 million in the initial quarter.
Net earnings for the period decreased by 78.7% to €8.4 million, in comparison to €39.6 million in the equivalent period of the previous year.
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