FDJ UNITED’s first half did not match last year’s pace. Higher gaming taxes, a quieter Euromillions calendar and weaker retail traffic in France all weighed on the business. Even so, FDJ UNITED H1 2026 ended with the group keeping its full-year guidance and profitability targets unchanged.

  • Group gross gaming revenue (GGR) reached EUR 4.31 billion, down 1.3% from a year earlier. Revenue (NGR plus revenue from other activities) declined 4.5% to EUR 1.78 billion, while recurring EBITDA came in at EUR 404 million, equal to a 22.7% margin. FDJ UNITED said tax increases across France, the UK, the Netherlands and Romania reduced revenue by around EUR 52 million.
  • The French lottery remained the group’s largest business but had a difficult six months. Fewer high-value Euromillions jackpots and lower customer traffic during the spring heatwaves pushed lottery revenue down to EUR 1.02 billion. Excluding the long Euromillions jackpot cycles, lottery GGR still increased by 1.0%, while online lottery GGR grew 6.0%.
  • The online betting and gaming business generated EUR 431 million in revenue, 7.4% less than a year earlier, although GGR was almost unchanged at EUR 702 million. France and the Nordic markets recorded growth, while the UK remained under pressure and the Netherlands showed signs of improvement during the second quarter. FDJ UNITED continues to report online lottery within its lottery division, so the group’s total online revenue is higher than the online betting and gaming segment alone.
  • Adjusted net profit fell to EUR 180 million, while reported net income was minus EUR 16 million, mainly due to impairment charges and an exceptional tax contribution. Net financial debt remained stable at EUR 1.96 billion, and Moody’s reaffirmed the group’s Baa1 investment-grade rating.
  • Looking ahead, FDJ UNITED expects both its lottery business and online betting and gaming division to deliver stable GGR in 2026, although revenue is still forecast to decline by a low single-digit percentage. Chairwoman and CEO Stéphane Pallez said: “The Group’s performance in the first half is still affected by higher taxation, alongside factors inherent to the lottery business.

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