FDJ United reports 8.6% fall in Dutch GGR for first nine months

FDJ United reported an 8.6% decline in gross gaming revenue (GGR) in the Netherlands for the first nine months of 2026, according to a financial update the company published on 22 October. The company operates in the Dutch online market through the Unibet and ZEbet sites. GGR in the United Kingdom also fell, by 24.4%.

FDJ United did not disclose separate revenue figures for the Dutch market and did not explain the reason for the lower Dutch GGR. The company said it is carrying out action plans in the Netherlands and the United Kingdom intended to contribute to a gradual recovery in performance.

The Online Betting and Gaming division, which includes the online gambling activities, recorded GGR of €1.013bn in the first nine months of 2026, 0.8% less than in the same period a year earlier. Division revenue fell 8.2% to €619m. Higher gambling taxes had an impact of €34m on the division's revenue, according to FDJ United. Excluding the Netherlands and the United Kingdom, GGR rose 5.7% and revenue rose 0.8%, with the company pointing to strong performance in France and Scandinavia.

Group revenue for the first nine months of 2026 was €2.576bn, down 5.6% year on year. Total GGR came to €6.264bn, 2.8% less than a year earlier. FDJ United cited several factors affecting the results, including smaller large lottery jackpots, high payouts on sports betting and a decline in visitors at physical points of sale in France. Higher gambling taxes had an impact of €62m on the group in the period, and FDJ United said the tax increases accounted for more than two percentage points of the revenue decline.

The new management of the Online Betting and Gaming division is carrying out an action plan to stimulate growth and reduce costs. FDJ United said it aims to optimise marketing investment and customer retention activities and to improve the player experience. The group is also working on its own sports betting platform that brings existing technologies together, with the aim of using it in most of the markets in which the division operates by the end of 2027. The reorientation of European development teams is under way, according to the company.

FDJ United is also reviewing the markets in which the online division operates and which activities fall outside its core operations, with particular attention to the Payment and Services division. The company said it intends to publish the conclusions of this review by the start of 2027 at the latest.

For the full year 2026, FDJ United expects GGR to fall by a low single-digit percentage and revenue to fall by a mid single-digit percentage. The company expects to maintain a recurring EBITDA margin of about 23%. FDJ United also confirmed its intention to increase the annual dividend, based on a payout ratio of at least 75% of adjusted net profit. The 2026 annual results will be published on 18 February 2027.