La Française des Jeux (FDJ),, has reported a solid start to the year 2024. The company’s total group revenue for Q1 2024 was €710 million ($755.6 million), marking a 7 percent increase from the €662 million reported in the same period last year. However, on a like-for-like basis, this reflects a marginal growth of 1.1 percent.

The gaming revenue in France rose by 3% to €645 million. A significant portion of FDJ’s total quarterly earnings came from online games, which accounted for €100 million, representing 15 percent of its total gaming revenue.

The most notable growth metric was reported from other activities, which include payment and services and international operations. This segment grew 77.4 percent from Q1 2023’s €37 million to this year’s €65 million. However, on a like-for-like basis, €65 million reflects a decline of 3.7 percent.

Sports betting and competitive online gaming saw a 9.5 million year-on-year increase at €141 million. However, when excluding Zeturf, which was acquired in October and later integrated, the growth was 0.9 million.

Lottery remained the largest contributor to overall group revenue at €504 million, up 1.4 percent from last year’s €497 million. Part of this growth was attributed to the €5 ticket (Ticket d’Or) which was launched in January. However, it was also noted that, were Amigo to be excluded from the results, lottery revenue would be up 4 percent..

went live on 20 February. The operator announced its intention to acquire the company in a €2.6 billion buyout in late January. It published its intention to acquire the company later in February, with Kindred’s shareholders approving amendments to facilitate the acquisition in March

During Q1, FDJ acquired 2.4 million Kindred shares for SEK 294 million ($26.7 million). The operator now holds 1.1 million of Kindred’s outstanding shares. Irrevocable commitments, including New York-based investment firm Eminence Capital, now represent 26.8 million of outstanding Kindred shares.

FDJ’s Chairwoman and CEO, Stéphane Pallez, (pictured above), has expressed confidence in the company’s growth and the ongoing acquisition of Kindred. This strategic move is expected to further strengthen FDJ’s position in the gaming industry.

In conclusion, FDJ’s Q1 2024 financial results reflect a promising start to the year, with significant revenue growth and strategic acquisitions. The company’s focus on expanding its online gaming business and other activities demonstrates its commitment to diversification and growth in the gaming industry. The acquisition of Kindred shares is a clear indication of FDJ’s strategic direction and ambition to become a leading player in the international gaming market.

Sands China, an integrated resort operator, has recorded a 53.3% surge in adjusted property EBITDA for its Macau operations. Similarly, Marina Bay Sands in Singapore also witnessed a significant increase of over 50% during the same period, with adjusted EBITDA totalling $610 million (€571.5 million) for Macau and $597 million (€559.4 million) for Singapore.  

The substantial EBITDA growth was fuelled by continued travel increases to both Macau and Singapore, contributing to 's net revenue of $2.96 billion (€2.77 million) and net income of $583 million (€504 million). Macau alone generated approximately $7.1 billion (€6.65 billion) in gaming revenue during the quarter, with mass gaming reaching a new quarterly record of $6.2 billion (5.8 billion), propelling Sands China's EBITDA to new heights.  

Marina Bay Sands experienced a resurgence in its VIP segment, with a 51.5% recovery from Q1 2023. Rolling volume reached $8.2 billion (€7.68 billion), reflecting the property's robust performance amidst evolving market dynamics.  

Chairman and CEO Robert Goldstein emphasized the company's commitment to strategic investments and expansion initiatives, leveraging its financial strength and industry-leading cash flow. Sands China continues to invest in its Londoner property, with revenues growing by 98.6% during the period.  

Earlier this week, Marina Bay Sands Singapore  that its expansion project entered its final phase of design enhancements. According to the company’s statement, the full-scale construction is expected to start by July 2025, with the completion date eyed for July 2029.   

The group remains dedicated to its capital expenditure (CAPEX) and operating expenditure (OPEX) investments, with plans totalling $4.5 billion (€4.2 billion) over the 10-year period of its new gaming license. These investments underscore Sands China's long-term commitment to enhancing its offerings and delivering exceptional experiences to its patrons.  

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details .

Okada Manila, operated by , Leisure & Entertainment Inc (TRLEI), experienced a substantial decline in gross gaming revenue (GGR) during the first quarter of 2024, primarily attributed to a significant downturn in the VIP segment. The GGR plummeted to PHP8.77 billion (€144.1 million), marking a 24% decrease from PHP11.57 billion (€190 million) in the same period of 2023.  

Gross gaming revenue from VIP table games at Okada Manila suffered a steep decline of 42.61% year-on-year, totalling just PHP2.58 billion ($45.26 million) for Q1 2024. This sharp downturn contrasts starkly with the PHP4.5 billion ($79 million) recorded in Q1 2023, significantly impacting the property's overall GGR performance.  

Despite the general decline in GGR, gaming machines emerged as the top performer for Okada Manila during the first quarter of 2024. Generating PHP3.23 billion (€53 million) in revenue, albeit experiencing a 17% yearly fall, gaming machines showcased resilience amidst challenging market conditions.  

The mass market table games segment at Okada Manila witnessed a 6% yearly drop in GGR, totalling PHP2.96 billion (€48.6 million) for Q1 2024. Additionally, mass online table volume experienced a significant decline of 68.5% year-on-year, contributing to the overall decrease in gaming revenue.  

The decline in gaming revenue led to an overall decrease in total revenue by 22.7%, amounting to PHP9.75 billion (€160 million) for the first quarter of 2024. Furthermore, adjusted segment EBITDA dropped by nearly 30%, reaching PHP2.33 billion (€38 million), reflecting the challenges faced by Okada Manila amidst evolving market dynamics.  

Despite the revenue challenges, Okada Manila maintained a strong hotel occupancy rate of 83.2% and received 1.45 million visitors during the first quarter of 2024. While non-gaming revenue experienced a moderate decline of 6.4% compared to Q1 2023, the property exhibited resilience in managing operational aspects amidst market fluctuations.  

Earlier this year, TRLEI  the collaboration with Dennis Uy’s PH Travel and Leisure Holdings Corp. This partnership secured a majority stake in the operating entities of the Mactan project, the Emerald Bay Resort.  

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details . 

Newport World Resorts, an integrated resort in the Philippines, has achieved a new yearly high in gross gaming revenue (GGR) for the fiscal year 2023. The resort surpassed PHP34.2 billion (€561.3 million) in GGR, marking a significant milestone in its financial performance.  

This  followed a 90.3% uptick in GGR in 2022. Newport World Resorts was formerly known as Resorts World Manila.  

Non-gaming sector flourishes, up by 40%  

In addition to its remarkable gaming revenue, Newport World Resorts experienced substantial growth in its non-gaming income segment. Alliance Global Group (AGI), the parent company of Newport World Resorts, revealed that non-gaming income surged by an impressive 40% annually, reaching PHP7.4 billion (€121 million).  

Record revenue growth across diverse business segments  

Under the stewardship of billionaire tycoon Andrew Tan, AGI saw a record-breaking year in terms of revenue generation across its diversified business portfolio. The conglomerate witnessed a remarkable 20% increase in revenue, totalling PHP30.3 billion (€497 million) for the fiscal year 2023.  

Optimistic outlook for 2024    

As the global economy shows signs of recovery and consumer spending rebounds, AGI's CEO Kevin Tan expressed optimism for the year ahead. Anticipating favourable policy rate cuts and easing inflation, Tan foresees improved economic conditions, stimulating demand across various sectors including housing, tourism, and leisure activities.   

Despite encountering increasing expenses and market pressures, Newport World Resorts demonstrated resilience by achieving an 8% year-on-year growth in EBITDA, reaching PHP8.2 billion (€134 million). The integrated resort also reported a substantial 89% growth in net profit, reflecting the effectiveness of its strategic initiatives amidst challenging market conditions.  

Philippines GGR target  

In March, Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco  the agency projects sustained growth and international prominence for the Philippines’ gaming landscape, eyeing its emergence as a premier gaming jurisdiction in the Asia-Pacific region.     

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details .