Betclic Reports Strong Performance Amid Busy Sporting Calendar
Banijay Group, the parent company of Betclic, reported a remarkable 41.7% increase in online sports betting and gaming revenues for H1 2024, driven by major sporting events and effective cross-sell campaigns. With a significant rise in active players and market share, the group expects continued growth.
Impressive Financial Performance
Banijay Group, the parent company of Betclic, reported a 41.7% year-on-year increase in online sports betting and gaming revenues, reaching €698 million in the first half of 2024.
The company also saw a 35.5% rise in adjusted EBITDA to €176.4 million, driven by a busy sporting calendar that included UEFA Euro 2024, Copa America, and the Tour de France.
Impact of Q2 Sporting Events
The second quarter of 2024 was particularly successful, with a 52.5% growth attributed to strong cross-sell campaigns that boosted online casino, poker, and horse racing revenues by 46%.
Betclic also launched the eighth version of its mobile app for French users, enhancing the user experience for sports betting, poker, and casino games.
Customer Engagement and Promotions
High customer engagement was noted during the Euro 2024 championships, especially for Betclic’s Supersub promotion.
The company emphasized live betting and prop bets, which contributed to increased customer activity and satisfaction.
Overall Group Performance
Banijay Group’s total revenue increased by 8.6% to €2 billion, with adjusted EBITDA up 12.3% to €367.5 million. The group expects organic EBITDA growth in the low teens for 2024.
CEO François Riahi highlighted that the group’s strategy focuses on recruiting and retaining more players than the competition, aiming for sustained engagement across various leagues and tournaments.
Market Share and Active Players
Banijay Group reported a rise in online gambling market share across all products and geographies, with active player numbers up 37% year-on-year.
The company’s focus on onboarding new customers has been successful, attracting a significant portion of new players during the first half of the year.
Increased Expenses and Future Outlook
Personnel and marketing expenses rose by 8% to €1.7 billion, primarily due to higher sports betting taxes and extensive marketing campaigns.
However, the group anticipates balancing these costs with the return of regular league and Champions League football post-summer.
Corporate Rebranding
The first half of 2024 was a transformative period for Banijay Group, marked by its rebranding from FL Entertainment to Banijay Group.
This rebrand solidifies its position as Europe’s largest entertainment group, now listed on the Amsterdam Euronext.
