FDJ United Tax Bill Increases by €62m in 2026 on Sustained UK and Dutch Pressure
FDJ United’s tax bill rose €62m in the first nine months of 2026 amid 5.6% revenue and 2.8% GGR declines. Netherlands and UK operations dragged results while France also showed weakness in lottery and sports betting. The group outlined a four-pillar recovery plan and set a 23% EBITDA margin target for 2027.
SCCG Take — Sustained tax rates above 37% in multiple jurisdictions compel operators to consolidate platforms and refocus resources on core products to defend margins.
FDJ United recorded a €62m increase in its tax bill so far in 2026. The French group cited persistent headwinds in the Netherlands and UK, two of western Europe’s most challenging gambling markets, as key factors behind the rise.
Revenue for the nine months to September declined 5.6% to €2.57bn while gross gaming revenue fell 2.8% to €6.26bn, according to reporting by SBC News. Excluding those two jurisdictions, GGR would have risen 5.7%. Action plans are now in place in both markets, where Unibet serves as the primary sportsbook asset.
Stéphane Pallez, FDJ United Chairwoman and Chief Executive Officer, attributed the performance to sector-wide issues including lower point-of-sale traffic and an unfavorable economic backdrop. She confirmed the group is executing plans to restore sustainable growth.
Market Performance Breakdown
French lottery and retail sports betting GGR dropped 3.5% to €4.97bn. Lottery revenue alone declined 3.8% to €1.49bn, led by a 10.3% fall in draw games. Overall sports betting revenue decreased 4.5% to €613m and online betting plus gaming revenue fell 8.2% to €619m. Tax rates remain elevated at 59.3% on French online betting GGR, 37.8% on Dutch online gaming GGR and 40% on UK online casino GGR.
Recovery Plan and 2027 Outlook
FDJ United has defined four recovery pillars: refreshing lottery products, improving online returns, consolidating its sportsbook technology stack and reviewing resource allocation to non-core businesses. Pascal Chaffard replaced Nils Anden as Chief Online Officer in Q1 to lead the digital integration of FDJ and Kindred assets. The group is accelerating a single proprietary sportsbook platform with full market coverage targeted by the end of 2027.
The operator forecasts a low-single-digit GGR decline and mid-single-digit revenue decline next year. Tax impacts are projected to exceed €70m. FDJ United is prioritising cost controls to deliver a recurring EBITDA margin of around 23%.
Reporting: SBC News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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