Betclic parent company reports 46% leap in 2024 revenue

Banijay Group has announced online sports betting and gaming revenue of €1.5bn (£1.3bn) for full-year 2024, with the Betclic and bet-at-home parent company pointing to market share gains across all geographies.

Banijay Group, formerly known as FL Entertainment, runs the two operators via its Banijay Gaming subsidiary.

Revenue was up 46.1% from €996.2m in full-year 2023, with sports betting accounting for the lion’s share at €1.1bn.

Casino revenue jumped 37.9% year on year (YoY) from €154.7m to €213.3m, while poker was up 26.3% from €61.4m to €77.6m.

Horseracing represented the smallest slice of revenue, although it did increase from €13.7m to €20.6m in 2024.

Banijay added that unique active players across the year grew 37% compared to 2023, with key sporting events such as Euro 2024 and the African Cup of Nations helping drive engagement.

Adjusted EBITDA for the online sports betting and gaming arm soared 50.9% from €251.8m to €379.8m, creating a corresponding margin of 26.1%.

The operator also noted that in December 2024 it rolled out its latest proprietary poker app, which followed a fresh sportsbook offering launched earlier in the year.

It was also highlighted that market shares gains were made across “all products and all geographies”, although the earnings report did not disclose further information on these fronts.

Looking ahead to 2025, management said the tax hikes due to be implemented in France will have an approximate €20m hit on group level adjusted EBITDA.

The company described the new taxes as “anticompetitive” and stated plans to contest the changes to the relevant authorities.

Tax on online sports betting GGR is due to rise from 54.9% to 59.3%, while the levy on poker stakes will shoot up from 0.2% to 10%. There will also be a 15% tax on ad spend.

The changes form part of France’s Social Security Financing Act for this year.

Banijay Group said: “Despite this impact, the group anticipates a continued positive outlook for online sports betting and gaming activity thanks to the quality of the business model and the diversity of revenue by geography.

“Adjusted EBITDA of the business segment including this tax impact is expected to grow by double digits in 2025 and the medium term.”

Revenue is still expected to increase in the mid-teens for the gaming arm in 2025, the operator added.

On a group level, Banijay posted revenue of €4.8bn, up 11.2% YoY, with its production and broadcast divisions performing well.

The company will host a Capital Markets Day on 16 May.