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La Française des Jeux (FDJ) announces its results for the first half of 2020

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2-6 La Française des Jeux (FDJ) announces its results for the first half of 2020
2-6-1 La Française des Jeux (FDJ) announces its results for the first half of 2020Reading Time: 14 minutes

 

The good momentum in stakes seen in the early part of the year (increase of 5% until mid-March) was halted by the consequences of the Covid-19 epidemic (decline of nearly 60% over the two months of lockdown). The gradual recovery since the lifting of lockdown in mid-May has accelerated with the gradual resumption of sporting competitions, including most of the national football championships in Europe, and the return of Amigo on 8 June. As such, the decline in stakes was limited to 18% over the half-year compared with the first half of 2019. They totalled €6.9 billion, breaking down as:

  • Lottery stakes down 13% at €5.8 billion:
    • Of which -15% for draw games to €2.2 billion and -11% for instant games to €3.6 billion;
    • A 50% increase in online stakes to €0.5 billion.
  • Sports betting stakes down 39% at €1.1 billion.
  • Half-year revenue totalled €849 million, down 15% on an adjusted basis,1 and EBITDA amounted to €174 million, a margin of 20.5%.
  • For EBITDA, the mechanical impact of the decline in activity was partially offset by the implementation of a large part of the savings plan of more than €80 million for 2020.
  • From mid-June the Group has returned to an overall level of activity comparable with that of 2019. However, in view of the many uncertainties that remain, the Group does not communicate any business or earnings forecasts for the financial year 2020 as a whole. However, it should be borne in mind that the EBITDA margin for the second half of 2019 benefited from exceptional long lottery cycles, as well as unexpected sporting results, which reduced the player payout ratio in the sports betting segment.

Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ, said: “The Group’s strong mobilisation from the onset of the health crisis and a swiftly implemented cost-cutting plan have limited the impact on the first-half results. For several weeks, we have been recording stakes at a level comparable with that of 2019. Our strategic orientations and the strength of the FDJ model have been confirmed, and we continue to invest to support the development of all our activities.”

The 2019 data used for the following analyses have been adjusted to reflect the new tax regime that came into force on 1st January 2020 and to consolidate Sporting Group over a full year (but without adjustment for long lottery cycles)

Key figures (in millions of euros)

30 June
2020

30 June 2019

adjusted

Chg. vs
adjusted

30 June 2019
published

Chg. vs
published

Stakes

6,898

8,454

(18%)

8,420

(18%)

Revenue*

849

995

(15%)

944

(10%)

Recurring operating profit

124

165

(25%)

136

(9%)

Net profit

50

96

(48%)

EBITDA**

174

208

(16%)

177

(2%)

EBITDA/revenue

20.5%

20.9%

18.8%

* Revenue: net gaming revenue and revenue from other activities
** EBITDA: recurring operating profit adjusted for depreciation and amortisation

Activity and results for H1 2020

  • Stakes of €6.9 billion, down 18.4%
  • Lottery stakes of €5.8 billion (-12.6%)

Lottery staked amounted to €5.8 billion, with a drop of 11.3% to €3.6 billion for instant games and a drop of 14.6% to €2.2 billion for draw games:

  • For instant games, the decline can be attributed in large part to the steep decline in footfall in points of sale during lockdown and the lack of activity in the product portfolio during the second quarter;
  • For draw games, the decrease can be ascribed chiefly to the suspension of Amigo, an express draw game in points of sales from 19 March to 8 June. Adjusted for Amigo, draw games stakes were down only slightly (-1.7%);
  • Online lottery stakes enjoyed good momentum, with an increase of 50% to €0.5 billion, and a marked acceleration in the second quarter, driven mainly by growth in the number of active players and the almost doubling of new registrations on fdj.fr.
  • Sports betting stakes of €1.1 billion (-38.8%)

Sports betting stakes totalled €1.1 billion. After a performance in line with objectives at the start of the year, sports betting stakes were impacted by the gradual cancellation of virtually all sporting competitions from mid-March 2020. No major sporting competitions took place during lockdown, which considerably reduced the betting offer. Since mid-May, sporting competitions, particularly football, have gradually resumed, resulting in a very significant resumption in stakes.

  • Revenue down 14.7% at €849 million

On half-yearly stakes of €6.9 billion (-18.4%), player winnings totalled €4.6 billion (-19.9%), representing a player payout (PPO) ratio of 67.3%, compared with 68.4% in the first half of 2019. The decline in the PPO reflects the change in the betting mix, with a higher share of lottery games. In addition, the sports betting PPO was reduced by unexpected results.

FDJ recorded gross gaming revenue (GGR: stakes less prizes won) down 15.1% at €2.3 billion. Net gaming revenue (NGR: GGR less contribution to the public finances) amounted to €829 million, i.e. 12.0% of stakes, with stability in the rate of public levies on games compared with that of the first half of 2019 at 63.5% of GGR, or €1.4 billion.

The FDJ Group’s revenue amounted to €849 million (-14.7%), compared with €995 million in the six months to end-June 2019.

  • EBITDA of €174 million, representing a margin of 20.5% on revenue (vs 20.9% in H1 2019)
  • Contribution margin by activity:
  • Lottery: contribution margin steady at 32.2%

The contribution margin of the Lottery BU was €219 million, i.e. a decline of €37 million (‑14.4%), for a margin on revenue of 32.2%, vs 33.2% in H1 2019 on the basis of revenue down 12.2% at €679 million.

Cost of sales, mainly the remuneration of distributors, was down 13.6% due to the drop in stakes in points of sale, while the slight increase of 6.6% in marketing and communication expenses to €65 million reflects the continued development of the product offering, partly offset by the reduction in advertising and promotional expenses.

  • Sports betting: contribution margin of 31.3%, an increase of 7 points due to the low PPO ratio

The Sports Betting BU’s contribution margin was €45 million in H1 2020, almost stable compared with the same period in 2019 (€48 million), i.e. a margin on revenue of 31.3%, up more than 7 points compared with the first half of 2019 (24.3%). Based on a drop of 38.8% in stakes, the lower half-yearly PPO ratio than in the first half of 2019 (73.1% vs 77.7%) helped limit to €50 million the decline in revenue (-25.7%) to €145 million.

The 39.3% reduction in cost of sales reflects trends in stakes, while the 15.8% decline in marketing and communication expenses to €34 million is related to the reduction in advertising and promotional initiatives against the backdrop of a reduced product offering.

  • Adjacent activities and holding company

Adjacent activities (International, Payments & Services and Entertainment) and the holding company recorded revenue of €24 million, with a contribution margin close to breakeven. Holding company costs amounted to €89 million, down €9 million compared with H1 2019.

  • EBITDA margin of 20.5%, virtually stable thanks in large part to the implementation of a savings plan of more than €80 million

From the onset of the health crisis and its first effects, the Group implemented a savings plan of more than €80 million for 2020. Two-thirds of the plan, more than half of which covered A&P expenditure, was implemented in H1, helping offset more than half of the decline in activity and thereby helping keep FDJ’s EBITDA margin above 20%.

The Group’s operating expenses were down 12.5% at €725 million, of which:

– Cost of sales of €482 million, down 17.6%, which notably includes the remuneration of €336 million for distributors, down €88 million (-21%), in line with the decline in stakes in the point-of-sale network;

– Marketing and communication expenses of €147 million, down nearly 2%;

– General and administrative expenses of €87 million, down 7%.

Depreciation and amortisation amounted to €50 million, compared with €43 million in H1 2019. Their growth was driven mainly by the amortisation of exclusive operating rights over a full half-year in 2020, compared with a single month in H1 2019.

On those bases, the FDJ Group recorded a recurring operating profit of €124 million (-24.9%) and EBITDA of €174 million (-16.4%), i.e. a margin on revenue of 20.5%, compared with 20.9% in June 2019.

  • Net income of €50 million including non-recurring items

In the first half of 2020, FDJ recorded other non-recurring operating expenses of €30 million, compared with €7 million in the first half of 2019. They related to Sporting Group, on which FDJ recorded impairment due to its sports betting activity in the United Kingdom.

The financial result for the first half of 2020 (expense of €5 million) reflects the change in the value of part of FDJ’s financial assets in a context of bearish financial markets.

After taking into account a net tax expense of €39 million, down €5 million, the Group’s net profit for the first half of 2020 was €50 million.

  • Available cash exceeding €800 million and net cash surplus of €298 million at end-June 2020

At the end of June 2020, the Group had more than €800 million in available cash.

The net cash surplus is one of the indicators of the level of net cash generated by the Group. It corresponds mainly to financial investments and gross cash (€1,154 million), less borrowings (€733 million).

As of 30 June 2020, it amounted to €298 million, an increase of €218 million compared with 31 December 2019. The change was mainly attributable to:

– The EBITDA generated over the half-year, plus a dual positive effect on working capital surplus linked on the one hand to the change in the payment schedule for public levies (monthly in 2020 but weekly in 2019) and on the other hand to unclaimed prizes only returned to the State at the end of the year;

– Against which are charged dividends in respect of 2019 and investments for the first half of the year.

For information, the net cash surplus at the end of June cannot be extrapolated to the end of December because there are significant calendar effects on the payments of public levies, including an advance on public levies in December.

A financial presentation is available on the FDJ group’s website
https://www.groupefdj.com/en/investors/financial-publications.html.

FDJ’s Board of Directors met on 29 July 2020 and reviewed the interim consolidated financial statements at 30 June 2020, which were prepared under its responsibility. The limited review procedures on the interim consolidated financial statements have been carried out. The review report of the statutory auditors is being issued.

The Group’s next financial communication

Given the changing nature of the situation, the estimates and forward-looking statement presented by FDJ cannot constitute either a forecast or a target. The Group will announce its stakes and revenue for the September quarter after trading on 14 October and will issue its new 2020 outlook as soon as possible.

 

About La Française des Jeux (FDJ Group):

France’s national lottery and leading gaming operator, the #2 lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable and responsible gaming to the general public in the form of lottery games (draws and instant games) and sports betting (ParionsSport), available from physical outlets and online. FDJ’s performance is driven by a portfolio of iconic and recent brands, the #1 local sales network in France, a growing market, recurring investment and a strategy of innovation to make its offering and distribution more attractive with an enhanced gaming experience.

FDJ Group is listed on the Euronext Paris regulated market (Compartment A – FDJ.PA) and is included in the SBF 120, Euronext Vigeo France 20, STOXX Europe 600, MSCI Europe and FTSE Euro indices.

For further information, www.groupefdj.com

Appendices

Adjusted 2019 data, with the full-year application of the new tax regime that came into force on 1 January 2020 and the consolidation of Sporting Group over 12 months.

In € million

30 June 2020

30 June 2019
published

Chg. 30 June 2020 vs
30 June 2019 published

30 June 2019
adjusted

Chg. 30 June 2020 vs
30 June 2019 adjusted

Stakes*

6,898

8,420

(18.1%)

8,454

(18.4%)

Attributable to Lottery

5,777

6,609

(12.6%)

6,609

(12.6%)

Instant lottery games**

3,558

4,012

(11.3%)

4,012

(11.3%)

Draw games

2,219

2,598

(14.6%)

2,598

(14.6%)

Attributable to Sports betting

1,108

1,810

(38.8%)

1,810

(38.8%)

Digitalised stakes***

1,391

1,652

(15.8%)

1,652

(15.8%)

Offline stakes

6,269

7,917

(20.8%)

7,917

(20.8%)

* Stakes reflect wagers by players, and do not constitute the revenue of the FDJ Group
** Mainly scratch games (point of sale and online)
*** Digitalised stakes include online and digitalised stakes at the point of sale, i.e. using a digital service/application for their preparation, prior to registration by the distributor

In € million

30 June 2020

30 June 2019
published

Chg. 30 June 2020 vs
30 June 2019 published

30 June 2019
adjusted

Chg. 30 June 2020 vs
30 June 2019 adjusted

Stakes

6,898

8,420

(18.1%)

8,454

(18.4%)

Player winnings

4,646

5,757

(19.3%)

5,799

(19.9%)

Player payout ratio

67.3%

68.4%

68.6%

Gross gaming revenue (GGR)

2,253

2,663

(15.4%)

2,654

(15.0%)

GGR as a % of stakes

32.7%

31.6%

3.3%

31.4%

4.0%

Net gaming revenue (NGR)

829

933

(11.2%)

976

(15.0%)

NGR as a % of stakes

12.0%

11.1%

8.5%

11.5%

4.1%

Revenue

849

944

(10.1%)

995

(14.7%)

Segment reporting

30 June 2020
In € millions Lottery BU Sport
Betting BU
Other
segments
Holding
company
Total before
depreciation
and amortisation
Depreciation
and
amortisation
Total Group
Stakes

5,777

1,108

14

6,898

6,898

Gross gaming revenue

1,954

298

1

2,253

2,253

Net gaming revenue

677

145

6

829

829

Revenue

679

145

24

1

849

849

Cost of sales

(395)

(65)

(3)

(464)

(18)

(482)

Marketing and communication expenses

(65)

(34)

(21)

(12)

(133)

(14)

(147)

Contribution margin

219

45

(1)

(12)

251

(32)

219

General and administration expenses

(78)

(78)

(18)

(95)

EBITDA

174

Depreciation and amortisation

(50)

Recurring operating profit

124

BU Loterie BU Paris
sportifs
ABU Holding Total avant
amort.
Amort. Total Groupe
Mises

6,610

1,810

34

0

8,454

8,454

Produit Brut des Jeux (PBJ)

2,251

403

0

0

2,654

2,654

Produit Net des Jeux (PNJ)

771

195

9

0

976

976

Chiffre d’affaires

773

195

27

0

995

995

Coût des ventes

-456

-107

-3

0

-566

-19

-585

Coûts marketing et communication

-61

-41

-22

-14

-138

-12

-150

Marge contributive

256

48

2

-14

291

-31

260

Coûts administratifs et généraux

-83

-83

-12

-95

EBITDA

208

Dotations aux amortissements

-43

Résultat Opérationnel Courant

165

30 June 2019 published
In € millions Lottery
BU
Sport Betting
BU
Other
segments
Holding
company
Total before
depreciation and
amortisation
Depreciation and
amortisation
Total Group
Stakes

6,610

1,810

8,420

8,420

Gross gaming revenue

2,257

406

2,663

2,663

Net gaming revenue

759

173

2

933

933

Revenue

761

173

11

944

944

Cost of sales

(456)

(107)

(1)

(564)

(19)

(583)

Marketing and communication
expenses

(62)

(40)

(11)

(14)

(127)

(11)

(138)

Contribution margin

243

26

(2)

(14)

253

(30)

223

General and administration
expenses

(76)

(76)

(11)

(87)

EBITDA

177

Depreciation and amortisation

(41)

Recurring operating profit

136

Consolidated income statement

In € millions 30 June 2020 30 June 2019
published
Stakes

6,898.4

8,420.0

Player payout

(4,645.5)

(5,756.9)

Gross gaming revenue

2,252.8

2,663.0

Public levies

(1,429.8)

(1,692.4)

Structural allocations to counterparty funds

0.0

(39.1)

Other revenue from sports betting

6.0

1.9

Net gaming revenue

829.0

933.4

Revenue from other activities

19.7

10.5

Revenue

848.6

944.0

Cost of sales

(481.9)

(582.9)

Marketing and communication expenses

(147.5)

(138.1)

General and administrative expenses

(87.0)

(85.6)

Other recurring operating income

0.5

0.4

Other recurring operating expenses

(9.0)

(1.8)

Recurring operating profit

123.8

135.9

Other non recurring operating income

0.2

0.1

Other non recurring operating expenses

(30.3)

(7.3)

Operating profit

93.7

128.7

Cost of debt

(2.1)

(0.8)

Other financial income

5.7

12.2

Other financial expenses

(8.9)

(0.5)

Net financial income/(expense)

(5.2)

10.9

Share of net income for joint ventures

0.5

0.6

Profit before tax

89.0

140.2

Income tax expense

(38.8)

(44.4)

Net profit for the period

50.2

95.9

Attributable to :
Owners of the parent

50.2

95.9

Non -controlling interests

0.0

0.0

Basic earnings per share (in €)

0.26

0.50

Diluted earnings per share (in €)

0.26

0.50

In € millions

30 June 2020

30 June 2019
published

June 2020 vs
June 2019 published

30 June 2019
adjusted

June 2020 vs
June 2019 adjusted

Recurring operating profit

124

136

(8.8%)

165

(24.8%)

Depreciation and amortisation

(50)

(41)

22.0%

(43)

16.3%

EBITDA

174

177

(1.8%)

208

(16.4%)

Consolidated statement of comprehensive income

In € millions 30 June 2020 30 June 2019
published
Net profit for the period

50.2

95.9

Cash flow hedging, before tax

0.1

0.2

Net investment hedge on foreign activities, before tax

6.6

0.6

Net currency translation difference, before tax

(2.4)

0.3

Tax related to items that may subsequently be recycled

(2.1)

(0.2)

Items recycled or that may subsequently be recycled to profit

2.2

0.9

Actuarial gains and losses

0.3

(3.3)

Others

(0.0)

(0.0)

Tax related to actuarial gains and losses through equity

(0.1)

1.0

Items that may not subsequently be recycled to profit

0.2

(2.3)

Other comprehensive income/(expense)

2.4

(1.4)

Total comprehensive income for the period

52.7

94.5

Attributable to :
Owners of the parent

52.7

94.5

Non-controlling interests

0.0

0.0

Consolidated statement of financial position

In € millions
ASSETS 30 June 2020 31 December 2019
published
Goodwill

28.1

56.4

Exclusive operating rights

363.1

370.7

Intangible assets

162.2

148.3

Property, plant and equipment

385.7

394.0

Non-current financial assets

378.1

584.3

Investments in associates

14.9

14.5

Non-current assets

1,332.1

1,568.2

Inventories

16.3

10.5

Trade and distribution network receivables

385.8

469.8

Other current assets

302.0

314.8

Tax payable assets

6.0

18.9

Current financial assets

354.9

272.2

Cash and cash equivalents

475.6

201.5

Current assets

1,540.6

1,287.8

TOTAL ASSETS

2,872.7

2,856.0

In € millions
EQUITY AND LIABILITIES 30 June 2020 31 December 2019
published
Share capital

76.4

76.4

Statutory reserves

91.7

87.5

Retained earnings (incl. Net profit for the period)

366.2

406.7

Reserves for other comprehensive income/(expense)

1.2

(1.3)

Equity attributable to owners of the parent

535.4

569.2

Non-controlling interests

0.0

0.0

Equity

535.4

569.2

Provisions for pensions and other employee benefits

56.3

56.9

Non-current provisions

48.1

49.3

Deferred tax liabilities

26.1

24.9

Non-current player funds

0.0

0.0

Non-current financial liabilities

568.6

229.7

Non-current liabilities

699.1

360.9

Current provisions

15.9

16.7

trade and distribution network payables

314.1

411.6

Tax payable liabilities

1.0

0.7

Current player funds

176.4

156.6

Public levies

540.6

414.8

Winnings payable and distributable

244.4

189.3

Other current liabilities

180.6

169.6

Payable to the French State with respect to the exclusive operating rights

0.0

380.0

Current financial liabilities

165.1

186.5

Current liabilities

1,638.2

1,925.9

TOTAL EQUITY AND LIABILITIES

2,872.7

2,856.0

Consolidated statement of cash flows

In € millions 30 June 2020 30 June 2019
published
OPERATING ACTIVITIES
Net consolidated profit for the period

50.2

95.9

Change in depreciation, amortisation and impairment of non-current assets

75.9

43.1

Change in provisions

4.1

6.1

Disposal gains or losses

0.2

0.1

Income tax expense

38.8

44.4

Other non-cash items from P&L

(0.2)

0.0

Net financial (income)/expense

5.2

(10.9)

Share of net income from joint ventures

(0.5)

(0.6)

Non-cash items

123.5

82.2

Use of provisions – payments

(6.5)

(4.5)

Interest received

2.5

2.3

Income taxes paid

(25.2)

(31.9)

Change in trade receivables and other current assets

(19.6)

124.2

Change in inventories

(5.7)

(1.9)

Change in trade receivables and other current liabilities

222.9

(56.5)

Change in other components of working capital

(1.6)

(1.5)

Change in operating working capital

196.0

64.3

Net cash flow from/(used in) operating activities

340.6

208.3

INVESTING ACTIVITIES
Acquisitions of property, plant and equipment and intangible assets

(423.2)

(32.4)

Acquisitions of investments

0.0

(111.8)

Disposals of property, plant and equipment and intangible assets

0.1

0.0

Change in current and non-current financial assets

145.3

(50.1)

Disposals of other financial assets

0.0

0.0

Change in loan and advances granted

(26.9)

2.8

Dividends received from associates and non-consolidated share

0.0

0.4

Other

0.5

0.0

Net cash flow from/(used in) investing activities

(304.3)

(191.0)

FINANCING ACTIVITIES
Issue of long-term debt

380.0

113.3

Repayment of the current portion of long-term debt

(8.8)

(4.0)

Repayment of lease liabilities

(4.0)

(2.9)

Dividends paid to ordinary shareholder of the parent company

(83.4)

(118.3)

Interest paid

(4.8)

(0.8)

Other

(0.6)

0.0

Net cash flow from/(used in) financing activities

278.5

(12.7)

Impact of exchange rates change

(0.4)

0.9

Net increase/(decrease) in net cash

314.3

5.5

Cash and cash equivalent as at 1 January

201.5

167.2

Cash and cash equivalent as at 31 December

475.6

179.0

Current bank overdrafts as at 1 January

(40.2)

(7.2)

Current bank overdrafts as at 31 December

0.0

(13.6)

Consolidated statement of changes in equity

In € millions

Share capital

Statutory reserves

Retained earnings (incl. Net profit for the period)

Cash flow hedging

Net investment hedge on foreign activities

Net currency translation difference

Actuarial gains and losses

Reserves for other comprehensive income/
(expense)

Equity attributable to owners of the parent

Non-controlling interests

Total equity

 

 Equity as at 31 December 2018 

 76.4   

  85.3   

   401.1   

    0.2   

       0.0   

       2.1   

   (1.2)  

                  1.1   

   563.9   

       0.0   

  563.9   

 Net profit for the period 

     95.9   

      95.9

      0.0   

   95.9   

 Other comprehensive income/(expense)

     0.2

        0.4

        0.3

    (2.3)

                (1.4)

      (1.4)

    (1.4)

 Total comprehensive income/(expense) for the period 

   0.0   

    0.0   

     95.9   

    0.2   

       0.4   

       0.3   

   (2.3)  

               (1.4)  

     94.5   

    (0.0)  

    94.5   

 Appropriation of 2018 profit/(loss)

    2.0

      (2.0)

 2018 dividends paid

  (122.0)

  (122.0)

 (122.0)

 Equity as at 30 June 2019 

 76.4   

  87.4   

   372.8   

    0.4   

       0.4   

       2.4   

   (3.5)  

               (0.3)  

   536.2   

    (0.0)  

  536.2   

 Equity as at 31 December 2019 

 76.4   

  87.5   

   406.7   

  (0.1)  

     (1.4)  

       4.1   

   (3.9)  

               (1.3)  

   569.2   

       0.0   

  569.2   

 Net profit for the period 

     50.2   

     50.2   

   50.2   

 Other comprehensive income/(expense)

     0.1

        4.5

      (2.4)

     0.2

                  2.5

        2.5

      2.5

 Total comprehensive income/(expense) for the period 

   0.0   

    0.0   

     50.2   

    0.1   

       4.5   

     (2.4)  

     0.2   

                  2.5   

     52.7   

       0.0   

    52.7   

 Appropriation of 2019 profit/(loss)

    4.2

      (4.2)

 2019 dividends paid

    (86.0)

    (86.0)

   (86.0)

 Other

      (0.6)

      (0.6)

    (0.6)

 Equity as at 30 June 2020 

   76.4   

    91.7   

     366.1   

      0.0   

         3.1   

         1.7   

     (3.7)  

                    1.2   

     535.4   

        0.0   

    535.4   

Net cash surplus

In € millions 30 June 2020 31 December 2019
published
Non-current financial assets at amortised cost

160.0

440.0

Non-current assets fair value through profit or loss

131.3

90.4

Other non-current financial assets excluding deposits

32.4

29.3

Total non-current investments (a)

323.7

559.8

Current financial assets at amortised cost

349.0

253.0

Current financial assets at fair value through profit or loss

5.0

16.1

Current derivatives

0.8

0.9

Total current investments (b)

354.8

270.0

Total current and non-current investments

678.5

829.8

Investments, cash equivalents

185.0

121.2

Cash at bank and in hand

290.7

80.3

Total cash and cash equivalents

475.7

201.5

Total gross investments and cash

1,154.2

1,031.3

Long-term financial debt

546.1

205.0

Non-current lease liabilities

22.0

24.4

Total non-current financial debt (c)

568.1

229.4

Short-term financial debt

27.2

8.2

Current lease liabilities

7.2

7.0

Current derivatives

0.2

0.7

Other

130.5

170.5

Total current financial debt excluding deposits (d)

165.1

186.4

Total financial debt

733.2

415.8

INVESTMENTS AND NET CASH

421.0

615.5

Payable to the French State with respect to the exclusive operating rights

0.0

(380.0)

Reclassification of online players wallets not yet covered by trust

0.0

(26.9)

Restricted cash

(4.5)

(5.3)

Sums allocated exclusively to Euromillions winners

(72.6)

(77.2)

Net liability associated with the permanent fund surplus

(46.1)

(46.1)

NET CASH SURPLUS

297.8

79.9

(a) Non-current investments correspond to non-current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding Euromillions deposits and guarantee deposits
(b) Current investments correspond to current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding given deposits and guarantees
(c) Long-term financial debt corresponds to non-current financial liabilities (as set out in the notes to the consolidated financial statements – statement of financial position), excluding received deposits and guarantees
(d) Short-term financial debt corresponds to non-current financial liabilities (as set out in the notes consolidated financial statements – statement of financial position)

———————————————

1 Restated to reflect the new tax regime that came into force on 1 January 2020 and consolidating Sporting Group on a full-year basis. Based on 2019 reported figures, half-year revenue would have been down 10%.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: La Française des Jeux (FDJ) announces its results for the first half of 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Stakelogic and iSoftBet Sign Content Distribution Partnership

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Stakelogic, one of the hottest online slot developers in the market, has joined forces with iSoftBet to expand the distribution of its content into newly regulated markets and across more operators than ever.

Under the partnership, Stakelogic’s chart-topping slots will be available to a host of global operators powered by iSoftBet in markets such as the UK, Romania, and Portugal. This includes titles like Flappers, The Expendables Megaways and Rambo.

Stakelogic’s full suite of titles will be delivered to operators via iSoftBet’s powerful Game Aggregation Platform (GAP), with its partners, such as NetBet, able to access new releases as soon as they launch.

iSoftBet’s GAP platform is one of the most dynamic and flexible on the market. With a single integration, GAP has enabled the world’s largest national and international brands to rapidly access the latest regulated markets. It comes complete with iSoftBet’s proprietary portfolio of more than 150 best-performing titles, more than 8,000 games from 70 of the industry’s leading game suppliers, and a comprehensive selection of the best-of-breed live casino, scratch card, and virtual games – alongside a suite of engagement solutions and gamification tools such as iNgame in order to engage and motivate players in a creative way.

Stakelogic has built a reputation for developing online slot and casino games based on entertaining themes and that combine stunning design with complex math and state of the art mechanics.

Stephan van den Oetelaar, CEO of Stakelogic, said: “iSoftBet is exactly what we look for in a distribution partner, combining a state-of-the-art platform with a network of prestigious operators targeting regulated markets around the world.

“This partnership will further expand our reach among operators and players, and will be a tremendous success for both Stakelogic and iSoftBet and its partners.”

Michael Probert, Chief Commercial Officer at iSoftBet, said: “We offer online casinos rapid, one-time integration to more than 70 of the industry’s leading online and mobile game software providers, and Stakelogic’s games will make a great addition to our outstanding GAP platform that offers our customers truly world-class content.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Stakelogic and iSoftBet Sign Content Distribution Partnership

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Week 39/2020 slot games releases

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weekly-slot-releases-1-4 Week 39/2020 slot games releases
weekly-slot-releases-1-5 Week 39/2020 slot games releasesReading Time: 8 minutes

 

Here are this weeks latest slots releases!

MGA Games, who specialise in developing fantastic slots for global operators, have just made the DREAM3TEAM 80’s-90’s slot available for online casinos throughout Spain. This new MGA Games casino slot stars Quique Tejada, Toni Peret and Josep Maria Castells, the legendary DJs behind hits like Max Mix and Bolero Mix who have sold over 30 million records in total. DREAM3TEAM 80’s-90’s is part of the Hyperrealism Series by MGA Games that uses a new hyperrealistic design for the characters. The slots not only impress because of their high-quality graphics but also because of the sequential loading that allows for amobile igaming experience capable of running any game without affecting playability.

DREAM3TEAM-2 Week 39/2020 slot games releases

 

Stakelogic has launched its latest slot “The Legend of Hercules” which takes players to the heart of a fierce ancient Greek battle. Players fight alongside the legend himself in this 5×3 reel, 30 payline slot in order to claim their share of ancient treasures and gold. They are helped in their fight for dominance and big wins with a range of bonus features including Stacked Wilds and Stacked Scatters. Wilds can land at random at any time during the base game where they stack on top of each other to increase the chance of landing a winning combination. Stack seven Scatter Symbols across the reels and the Free Spin bonus round will be triggered.

9-10-2 Week 39/2020 slot games releases

 

Start down the scrumptious reels to SWEET wins in High 5 Games latest slot game. CANDYBLASTED is loaded with sugarcoated rewards that will have players craving for more. The 10×10 reel title welcomes players into this candy world with jolly treats and delectable colors. In the base game, when a winning cluster of candy symbols is formed, the Racking Up Riches feature is activated. All symbols not a part of the winning cluster will disappear and new symbols will appear in the empty spaces. If any of the new symbols are added into the cluster, or if a new cluster begins to form, this process will repeat until there are no more additional symbols to add to the clusters, awarding the player the winning amount they racked up.

candyblasted-2 Week 39/2020 slot games releases

 

GameArt has launched its first ever Megaways2122-124 Week 39/2020 slot games releases title, in the form of Rosh Immortality Cube Megaways2122-125 Week 39/2020 slot games releases.The slot’s fantasy adventure theme comes complete with dark magic, beautiful princesses, evil beasts, and of course, the hero of the story, Rosh, and will immerse players in the battle for the universe’s greatest secret; the Immortality Cube. Taking inspiration from player-generated slot concepts, GameArt’s creative team has worked tirelessly to create a visually stunning game world, while also offering in-depth gameplay, with features including cascading symbols, mystery multipliers, free spins, extra reels, and a bonus feature.

Rosh-Immortality-Cube-Megaways-2 Week 39/2020 slot games releases

 

Another engaging title from Play’n GO this week as they announce the release of their latest slot offering, Feline Fury. A 5×3 video slot, Feline Fury is a lighthearted game based around the idea of dressing up cats in period clothing and costume; a trend that has become something of a phenomenon on social media in recent times. While sure to be a hit with cat lovers, the game is a simple, easy to play slot sure to appeal to casual gamers and those who are looking for a cheery, fun slot to get into.

 

feline-fury-2 Week 39/2020 slot games releases

 

 

Kalamba Games has expanded its Joker series with the addition of Joker Lanterns, a spooky edition of the supplier’s smash-hit titles. Launched just in time for Halloween, this 6×4 title is a modern take on a classic fruit slot but with added pumpkin lanterns symbols acting as wilds, bringing some frightening excitement to the gameplay.  The game is Kalamba’s fifth Joker title with previous versions such as Joker Supreme and Joker Max being favourites with players. The game comes packed with jackpots, extra free spins and Kalamba’s signature HyperBet and HyperBonus features to make sure players have a super fun Halloween with massive win potential.

Joker-Lanterns-2 Week 39/2020 slot games releases

 

Realistic Games has re-imagined one of the most popular land-based slots for online audiences in the latest addition to its portfolio BAR-X2122-126 Week 39/2020 slot games releases. Released in collaboration with Electrocoin, the mastermind behind the 40-year old land-based original, the 3-reel, single payline slot captures the nostalgia of the low-tech classic for play across mobile, tablet and desktop devices. Realistic’s online adaption gives players the option of three game profiles – BAR-X2122-127 Week 39/2020 slot games releases 30, BAR-X2122-128 Week 39/2020 slot games releases 40 and BAR-X2122-129 Week 39/2020 slot games releases 50 – on launching the game, with each offering maximum pay outs of 90x, 120x and 150x respectively.

bar-x Week 39/2020 slot games releases

 

Blueprint Gaming has enhanced the popular online and retail game, Fishin’ Frenzy, with the inclusion of its innovative Power 4 Slots mode. Retaining all the characteristics of this timeless classic, the addition of the slot developer’s exciting concept now allows users to play across four sets of reels at the same time, ensuring there are more ways to trigger Free Games and catch big wins. Fishin’ Frenzy Power 4 Slots includes a new Super Games mode for keen anglers, which is activated when three or more bonus symbols appear on more than one-reel set. The upgraded feature sees every Fisherman catch the fish in view and remove the lowest paying Scatter fish, while also rewarding an extra spin.

Fishin-Frenzy-Power-4-Slots Week 39/2020 slot games releases

 

 

GAMING1 has launched its latest slot game, Feng Li Dragon. The scorching new 5×3 title invites audacious players on an action-packed adventure through ancient China, where learned martial art dojos reveal their top-secret techniques. On the journey to becoming the Feng Li Master’s chosen apprentice, gamblers must undergo a rigorous training regime in the Gold Coin Room to absorb the intriguing guru’s age-old wisdom. Players who obtain coins can then use them to collect multipliers, free spins and up to 2 passing Wilds, with those who land three of the coins winning the coveted Feng Li Dragon Treasure Jackpot.

Feng-Li-Dragon-2 Week 39/2020 slot games releases

Booongo has released its newest title, Thunder of Olympus, becoming the latest addition to the company’s Hold and Win library. The supplier’s new 3×5, 25 payline game invites players to explore the splendour of Ancient Greece where the mighty God Zeus awaits on the reels. Incorporating Hold and Win mechanics, collecting six Lightning Balls will trigger the bonus feature. Players have the chance to secure more Lightning Balls to win the Grand jackpot of 1,000x their stake by filling the entire reel set with bonus symbols. Respins are awarded if any Balls land on the reels during the Bonus spins.

Thunder-of-Olympus-2 Week 39/2020 slot games releases

 

 

Pragmatic Play, a leading content provider to the gaming industry, has launched its latest feature-filled hit, Wild Wild Riches. The five reel, 576 payline video slot sees players enter a magical meadow filled with riches, where players look to channel the luck of the Irish to collect Scatter symbols and Bonuses on the reels. To unlock the wins on offer, players must land two Wild symbols on the first two reels, before finding either a Money Scatter or Bonus Scatter on the third. Each Money Scatter has a fixed value of up to 25x a player’s bet, or the three jackpot values (Mini, Major, Mega). If a Bonus Scatter lands, then the free spins mode is triggered, giving players a minimum of 10 free spins. The Money Collect Feature remains active during the Free Spins mode.

Wild-Wild-Riches-2 Week 39/2020 slot games releases

 

Yggdrasil, has uncovered Valley of the Gods 2, the exciting sequel to fan-favourite Valley of the Gods. The original version of the title has proven hugely popular with a demand from players to build this upcoming sequel. With Valley of the Gods 2, Yggdrasil delivers even more thrilling excitement for slot fans to enjoy. Valley of the Gods 2 has a proven, simple gameplay mechanic which is widely accepted by all player types including casual as well as more demanding players. The game also offers new features, such as collectible wilds, which is a key to higher variance and super big wins up to 5481 times the bet.

Valley-of-the-Gods-2-2 Week 39/2020 slot games releases

 

Red Rake Gaming has launched a new 5×3 reel videoslot with 25 paylines where players can win up to 2000 times their bet! Venture out to the deepest ocean and you will find Lorelei, an enchanting mermaid who will use her songs to guide players to the pearls that she guards, rewarding them with 15 free spins and the “Fusion Minigame,” where they can obtain massive wins. The most exciting feature of this new video slot, which has already been massively popular in previous games from Red Rake Gaming, is the “Fusion Minigame.” It gives players the opportunity to combine Lorelei symbols to form even larger symbols and win up to 2000 times their bet.

Loreleis-Pearls-2 Week 39/2020 slot games releases

 

Immerse yourself in a quest for the Mythical Treasure. EGT Interactive presents аn unbeatable warrior in his search for a mythical treasure. Be brave and follow his lightning sphere through all fantasy spins!  Let’s enjoy an amazing magical slot with the most wanted treasure of all! This 5-reel, 25 paylines video slot is offering exciting features, outstanding graphics and wild sound effects.Watch out for the Castle Scatter Symbol with an enchanted apple because it will grant you more magical spins.The Golden Phoenix Symbol is your Wild, boosting your winnings.

Mythical-Treasure-2 Week 39/2020 slot games releases

 

Stakelogic has included the Mega Super Stake feature in its latest slot game Lion Gold. The new slot is full of bonus features including Wilds, Free Spins and Jackpots. The Free Spins bonus is triggered when three or more Scatter symbols land anywhere on the reels; three symbols trigger six Free Spins, four Scatters trigger 10 Free Spins and five Scatters trigger 15 Free Spins. When Free Spins are active, Colossal symbols land covering a 3×3 grid on the reels. Lion Gold comes with Stakelogic’s innovative Super Stake and Mega Super Stack engine, allowing players to place side bets to multiply their stake by up to 2.5x and hitting insanely valuable win combinations. Super Stake and Mega Super Stake are triggered on losing spins and award six and ten Free Spins respectively.

2-17-2 Week 39/2020 slot games releases

 

RubyPlay has launched its new video slot Wolf Haven, which takes players into the sacred mountains where the bears, eagles and wolves rule the wild. Wolf Haven is a 5-reel slot with up to 100,000 ways to win in the Big Reels feature, as well as loads of other fantastic features. The Random Wild Feature enhances any win with extra wilds when a red moon lands. Better and better bonus reels can be chosen during Free Games, which can also be activated by collecting Ruby Coins.

6-15-2 Week 39/2020 slot games releases

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Week 39/2020 slot games releases

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Ukraine’s UPEA Unveils Five-year Strategy for Esports Development

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The Ukrainian Professional Esports Association (UPEA) has introduced its strategy of esports development in Ukraine for the next five years, as well as its structure and key objectives.

UPEA intends to raise funds, develop streaming studios, open an “esports ready” hotel, increase the number of international tournaments, attract investments, and more.

The Association plans to attract $100 million of investments, $42 million of which has already been made towards the purchase and development of the first “esports ready” hotel on the infrastructure base of the Dnipro Hotel. Another $20 million is planned to be invested into its reconstruction, according to a release.

“We want Ukraine to be among the world leaders, and today we have all chances to enter the TOP-5 countries with the most developed esports ecosystem,” Oleksandr Kokhanovskyy, Board Chairman for UPEA and Founder of Natus Vincere, said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Ukraine’s UPEA Unveils Five-year Strategy for Esports Development

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