FL Entertainment said revenue in its sports betting and gaming division rose by 31 per cent to €321.5m in Q1, as the group revealed a wide-ranging rebrand to Banijay Group.
The owner of the Betclic brand said a 24 per cent increase in the number of unique active players steered growth in the segment, with “strong momentum in all geographies.”
Sportsbook revenue rose by 25.5 per cent to $246.9m, while online casino, poker and turf revenue was up by 52.5 per cent.
Banjiay Group said its “successful” Ivory Coast expansion was boosted by the Africa Cup of Nations 2024. Indeed, during January and February this year, the Betclic app was downloaded 127,000 times and ranked first on the App Store among all categories, the company said.
It also noted “strong activity” going forwards with Euro 2024 and the Paris Olympics.
Non-sportsbook revenues were up by 53 per cent and were supported by cross-selling activity, Banijay Group said.
The company has updated its 2024 guidance for organic adjusted EBITDA growth, which it expects to reach the low teens from a previous high single-digit estimate.
The company's rebrand is an adaptation of its Banijay production arm, which produces television programmes including for the BBC in the UK.
Three new business divisions will include Banijay Gaming, which will regroup the group's online sports betting and gaming activities. However, Betclic and Bet at Home will remain unchanged.
Banijay Entertainment, formerly Banijay, will continue to operate as Banijay Group’s content production and distribution business, while Banijay Live – which was previously Banijay Events – will continue to produce institutional ceremonies and live events in the sports, luxury and fashion industries.
Overall Banijay revenue for Q1 reached €1bn, up 10.6 per cent year-on-year.
