FDJ UNITED reports €6,264m GGR to end‑September 2026, revenue falls

FDJ UNITED reported gross gaming revenue (GGR) of €6,264m for the nine months to 30 September 2026, a decline of 2.8%, and revenue of €2,576m, down 5.6%, the company said on 26 October 2026. Management attributed the drop to fewer and smaller high jackpots versus 2025, particularly in Q3, unusually high player winnings in sports betting in Q3 (notably at points of sale), weak retail traffic in France in Q2 and Q3, and gaming tax increases totalling €62m for the Group.

Business-unit performance

The French lottery and retail sports betting business unit (BU) posted GGR of €4,978m, down 3.5%, and revenue of €1,794m, down 4.8%.

Lottery

Lottery GGR stood at €4,365m, down 3.5% year‑on‑year; within lottery, instant games were up 1.9% while draw games fell 10.3%. Revenue for the lottery component was included in the BU total at €1,497m, a decline of 4.8%.

Sports betting

Sports betting GGR was €613m, down 3.2%, and sports betting revenue was €297m, down 4.5%. The company said particularly high player winnings in sports betting in Q3, concentrated at points of sale, were a material factor in the quarter’s performance. The report highlights an overall decrease in retail traffic in France during Q2 and Q3 amid challenging economic conditions.

Online betting and gaming BU and geographic notes

The Online betting and gaming BU recorded broadly stable GGR, down 0.8% at €1,013m, while revenue declined 8.2% to €619m. FDJ UNITED said that, excluding the Netherlands and the United Kingdom, GGR rose by 5.7% and revenue increased by 0.8%, driven by strong performance in France and Scandinavia. In the Netherlands and the United Kingdom the group is executing action plans to restore performance.

The company said the new management team of the Online betting and gaming BU is implementing an action plan focused on optimising marketing spend, customer loyalty measures and the player experience. The BU description also notes acceleration of a rollout of a single proprietary sports betting platform intended to combine its existing technologies and to cover the majority of its markets by the end of 2027. Read more on the group’s sports strategy in our sports coverage.

Strategic initiatives and cost measures

FDJ UNITED said it is rolling out commercial and marketing initiatives to revitalise lottery performance, including additional draw‑game events in Q4. The group plans investments in game refresh and innovation, including a relaunch of Euromillions and Loto in 2027 and the launch of a new €10 instant game, enhancement of web‑exclusive games, and expansion of under‑banner points of sale.

The Group is advancing a performance plan and a review of the Online betting and gaming BU’s markets and non‑core business assets, notably within the Payment and Services BU. Conclusions from that review will be announced by early 2027 at the latest. A summary of payments‑related actions appears in the Payment and Services BU briefing in this release and in our payments section.

2026 targets and outlook

FDJ UNITED now targets a low‑single digit decline in GGR for full‑year 2026 and a mid‑single digit decline in revenue. The company expects its cost control discipline to support a recurring EBITDA margin of around 23% and reconfirms a target of an annual dividend increase based on a payout ratio of at least 75% of adjusted net profit.

"FDJ UNITED’s performance at the end of September reflects factors inherent to the gaming sector, a decrease in traffic at points of sale against a backdrop of an unfavorable economic climate, as well as the expected increase in taxation," said Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ UNITED.

FDJ UNITED said the group remains committed to implementing its action and performance plans to regain sustainable growth momentum, backed by product innovation and the attractiveness of its portfolio.