Online drives FL Entertainment’s fourth quarter growth

Finance News

Amsterdam-listed FL Entertainment has reported a 6.7% revenue rise in 2023 to €4.32bn.

Online sports betting & gaming had an outstanding performance in 2023 which increased its leading positions in core markets together with double digit growth in unique active players up 23% and revenue up 19%. Adjusted EBITDA was up +17.0% to €756m.

François Riahi, CEO of FL Entertainment, said: “We delivered record results in 2023, powered by the continued strong performance of both businesses. Since we listed two years ago, we have increased our revenue by 30% and our Adjusted EBITDA by 26%, illustrating the strength of our business model.

During this time, our revenues with OTT players in content production have increased by 75%, and we have also expanded our activities into the live experiences space through M&A, which will contribute to growth moving forward.In

Content production & distribution, 2023 illustrated our strengths in more challenging macroeconomic conditions, powered by our iconic brands like Big Brother and Star Academy, the depth of our content catalogue, and new scripted and non-scripted formats that are in demand from both linear and streaming clients across the globe.

We are also developing opportunities in exciting areas like sports entertainment, while further monetizing our IP through digitalization and content indexing, which represents a new avenue for growth.

Our diversification into the fast-growing live experiences market is also helping us to become a true multi-disciplinary creative heavyweight.In Online sports betting & gaming, we delivered strong performance across all segments, with significant double-digit growth in casino, poker and turf revenues demonstrating the diverse appeal of our best-in-class tech platform.

Underpinned by our resolute commitment to responsible gaming – with 99% of revenues coming from locally regulated countries – we developed our leading positions in France, Portugal and Poland, and successfully expanded into the Ivory Coast, with more to come in Africa.Looking ahead to 2024, we are confident that we will continue to deliver profitable growth across all activities thanks to our unique positioning in the entertainment industry. One of our top priorities will also be expanding our free float and stock liquidity, so that our strong operational performance can result in value creation for all our shareholders.”