FL Entertainment, a European digital entertainment and iGaming company, has generated €396.6m (US$388.5m) in sports betting revenue for H1 2022.
This represented a decrease of 3% year-on-year, a decline the company attributes to a quieter sports calendar in 2022 compared to 2021.
Managed by FL Entertainment’s Betclic Everest Group, the group says the impact of lockdowns in 2021 proved positive for business when it operated Bet-at-home. The company has since discontinued some Bet-at-home activities from 2021.
However, FL Entertainment also offers content production & distribution through Banijay Group, which generates the majority of the company’s revenue.
Through Banijay, FL Entertainment generated €1.17bn in H1 2022, up 25% on the €929.4m made the previous year.
In total, the company made a combined €1.80bn, up 19% year-on-year when accounting for Banijay’s gains and Betclic Everest’s losses.
FL Entertainment CEO François Riahi said: “During H1 2022, FL Entertainment delivered double-digit revenue and EBITDA growth thanks to a strong post-Covid recovery in content production and increased distribution revenues.
“Our sports betting & online gaming business performed well and continued to attract new players, despite the quieter sports calendar in the first half. Based on the strength of our H1 performance, we are confirming our revenue and earnings targets for 2022, as well as our mid-term outlook.
“FL Entertainment’s listing in July 2022 is the start of a new chapter for our business and we are delighted to begin life as a publicly-traded company with such strong momentum.”
