FDJ United: Initiation of Coverage- 6 Critical Factors That Will Define Its Success in 2025 & Beyond!

Française des Jeux (FDJ) recently announced its annual results for 2024, showcasing a year of substantial transformation and growth. A notable highlight was the acquisition of Kindred, resulting in the formation of FDJ United. This strategic move aims to reinforce FDJ’s position as a diversified and international gaming group with a strong digital presence. The acquisition of Kindred was financed through the issuance of a EUR 1.5 billion eurobond, marking FDJ’s debut in bond markets. Kindred’s integration began smoothly, aligning with FDJ’s projections and enhancing revenue diversification across 13 European markets. The acquisition is projected to provide significant synergies and cost optimization estimated at an additional EUR 50 million over the next two years.