The FL Entertainment company, which is the owner of Betclic Everest Group, reported a surge in new players in the year to date, leading to double-digit growth in revenue and earnings. The group’s Betclic and Bet-at-home brands generated €718.5m in revenue in the year to 30 September, marking a 21.3% increase year-on-year at constant currencies. For Q3, revenue saw a 17.3% increase.

All segments of the group contributed to this growth, with double-digit increases across the board. Although sportsbook remains the largest segment, comprising 78% of revenue, it experienced the least growth during the period.

Sportsbook revenue saw a 16.7% increase at constant exchange rates to €558.4m. The performance was particularly solid given the comparison with a strong Q3 in 2022 due to the UEFA Champions League starting earlier than usual.

Online casino saw the biggest growth with a 48.7% uptick to €106.9m, making it the smallest segment. Poker also saw a 25.3% increase to €43.7m.

The Betclic brand drove the growth, while Bet-at-home recently cut its revenue guidance for the 2023 financial year due to unfavorable sports results. Excluding Bet-at-home operations that have been discontinued, revenue saw a 22% increase, driven by the strong performance of Betclic, which was up 24%.

The group also recorded a strong increase in new unique active players, up by 34%. Adjusted EBITDA of €472.9m saw an 8.1% increase, impacted by a 7.5% rise in overall group expenditure to €1.4bn, primarily due to higher betting taxes.

Looking ahead, the group expects its positive momentum to continue in Q4 2023 driven by ongoing growth and retention of unique active players and the expected impact of the new Betclic app. The FL group as a whole, which owns Banijay, a global TV production company, saw revenue grow by 5.6% to €2.9bn, with adjusted EBITDA up 6.9% to €472.9m.

François Riahi, CEO of FL, expressed satisfaction with the solid results and top-line growth in the first nine months of 2023, noting the successful launch of a highly rated new app that enhances the product offer and user experience. Betclic has also become the first player to achieve the GamCare Safer Gambling certification outside the UK, demonstrating a total commitment to responsible gaming.

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