Freshly rebranded FDJ United has reported a decline in online sports betting revenue in Q1 trading, coming one quarter after its acquisition of Kindred Group.
The operator of the French national lottery significantly expanded its reach in sports betting when it completed its €2.45bn takeover of Swedish founded Kindred, the operator of the Unibet sportsbook and 32Red online casino brands.
However, there have been some tough adjustments. The company’s Q1 report shows a 10% drop in betting and gaming revenue from €256m to €231m. FDJ attributed this to regulatory transitions in the UK and Netherlands as well as an increase in taxation in the latter, where revenue fell 41%.
