FL reviews capital options to expand betting and entertainment units
Betclic Everest owner FL Entertainment has reaffirmed its full-year 2022 guidance as the Pan-European media and entertainment conglomerate completes a successful year-1 listing on the Amsterdam Euronext.
Updating investors, FL cited that it had “enjoyed strong momentum across its two business lines of media production and sports betting throughout 2022’.
Flagship sportsbook subsidiary Betclic had “registered high double-digit growth in stakes versus Euro2020”, led by a considerable increase in active player numbers compared to 2021.
Betclic’s growth is expected to continue into the first half of 2023 trading.
The group’s sports betting growth was supported by FL registering a 25% increase in the viewer engagement of its European content catalogue compared to 2021, due to its entertainment unit being enlarged by 12 bolt-on acquisitions of production and content companies.
FL outlined: “Thanks to the positive momentum observed during the year, combined with the Group’s leading positions in attractive and growing segments of the entertainment industry, FL Entertainment reconfirms its 2022 guidance.”
2023 will see FL revise its funding and capital markets options to accelerate the diversification of the company’s core business units and strengthen its capital structure.
Despite its sports betting growth, FL continues to revise options on its 53% stake in under-performing German sportsbook bet-at-home AG, which anticipates FY losses in the range of €2-to-€4m.
Source: SBC News
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