{"id":255,"date":"2024-06-27T03:08:41","date_gmt":"2024-06-27T00:08:41","guid":{"rendered":"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/"},"modified":"2024-06-27T03:08:41","modified_gmt":"2024-06-27T00:08:41","slug":"fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022","status":"publish","type":"post","link":"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/","title":{"rendered":"FL Entertainment Reports Strong Revenue Growth in First Nine Months of 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/5fGt7SCVKCQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>FL Entertainment declared that its internet sports and wagering income rose by 5.7% in the initial nine months concluding September 2022. The growth in the Betclic Everest enterprise counterbalanced a decrease in Bet-at-home.<\/p>\n<p>FL Entertainment, which went public in July, is the new moniker for the consolidated business formed through the amalgamation of European operations with the special purpose acquisition company (SPAC) Pegasus Entrepreneurs Acquisition Corp.<\/p>\n<p>The merger agreement incorporated all Betclic Everest subsidiaries, including Bet-at-home, as well as the television production business Banijay, which initially merged with Betclic to create FL Entertainment before combining with Pegasus.<\/p>\n<p>Fran\u00e7ois Riahi, chief executive of FL Entertainment, stated: &#8220;FL Entertainment attained robust group revenue expansion in the initial nine months of 2022, demonstrating sustained strong profitability and cash generation.&#8221;<\/p>\n<p>&#8220;Our online sports betting and gaming enterprise also performed exceptionally well, with powerful earnings growth driven by its engaging digital platforms and lean cost structure.&#8221; <\/p>\n<p>Betclic witnessed a considerable rise in active participants, showing an 11% surge compared to the previous year. They are dedicated to accountable gaming and are strategically positioned to capitalize on the upcoming global football tournament.<\/p>\n<p>Digital sports and wagering income for the nine-month period concluding in September reached \u20ac591 million, an increase from \u20ac559.1 million in the previous year. Sports wagering income amounted to \u20ac477.1 million, representing a 7.1% year-over-year growth. This was fueled by a robust third quarter, following a slower initial half of the year for sporting events compared to the first half of 2021, which included the European Football Championship.<\/p>\n<p>Casino income experienced a decline of 6.5% to \u20ac71.8 million, while online poker income saw an 8.7% rise to \u20ac34.9 million. Other income in this sector expanded by 56.8% to \u20ac7.2 million.<\/p>\n<p>Betclic is performing well, while Bet-at-home is facing challenges. Betclic&#8217;s income expanded by 13% year-over-year at consistent exchange rates, excluding the discontinued Bet-at-home operations in certain regions. On a comparable basis, Betclic income grew by 15%, while Bet-at-home declined by 11%.<\/p>\n<p>Bet-at-home has encountered a challenging year. In September, they issued a cautionary statement indicating a potential shortfall in liquid funds to fulfill their financial commitments due to the effects of their withdrawal from the Austrian market. They are in a precarious position. <\/p>\n<p>This caution follows the company&#8217;s substantial scaling back of its operations in other areas, specifically Austria.<\/p>\n<p>In October of 2021, the company faced a legal defeat in Austria against a group of players seeking reimbursement from an unauthorized operator. Following this, Bet-at-home declared its departure from the market and shut down the Maltese entity it had established.<\/p>\n<p>In July of this year, Bet-at-home disclosed that it had &#8220;abandoned&#8221; its UK license and would permanently withdraw from the market. This came after the operator&#8217;s license was suspended by the UK Gambling Commission due to alleged anti-money laundering and social responsibility shortcomings.<\/p>\n<p>In terms of the broader business, encompassing content creation and distribution, revenue saw a 15.0% year-over-year increase, reaching \u20ac2.71 billion.<\/p>\n<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced a 17.5% growth, reaching \u20ac446.4 million, accompanied by a margin expansion to 16.5%.<\/p>\n<p>The pre-tax deficit amounted to \u20ac35.1 million, contrasting with a profit of \u20ac14.2 million in the preceding year. FL Entertainment paid \u20ac40.3 million in taxes, leading to a net loss of \u20ac75.4 million, significantly exceeding the \u20ac1.8 million loss recorded last year.<\/p>\n<p>However, FL Entertainment highlighted that after deducting certain expenses (namely \u20ac99.5 million in restructuring costs and \u20ac104.7 million in long-term incentive plans and earnings and option expenses associated with employment) and factoring in \u20ac81.1 million in other financial income, net profit reached \u20ac209.8 million, representing a 15.4% year-over-year increase. <\/p>\n<p>Amidst an economic climate marked by rising prices, FL Entertainment is grappling with a number of broad economic hurdles. The company is dedicated to enhancing efficiency, especially in the realm of content creation, to sustain profitability and robust cash flow.<\/p>\n<p>Riahi stated: &#8220;The favorable progress witnessed thus far in the current year, combined with our dominant position within a compelling and expanding segment of the entertainment sector, empowers us to uphold consistent growth aligned with our 2022 projections and long-term vision.&#8221;<\/p>\n<p>Sign up for the iGaming News Newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>FL Entertainment declared that its internet sports and wagering income rose by 5.7% in the initial nine months concluding September 2022. The growth in the Betclic Everest enterprise counterbalanced a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FL Entertainment: Sports Betting Revenue Up 5.7%<\/title>\n<meta name=\"description\" content=\"FL Entertainment, the new name for the combined European sports betting business, saw a 5.7% increase in revenue in the first nine months of 2022.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"FL Entertainment Reports Strong Revenue Growth in First Nine Months of 2022\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"FL Entertainment, the new name for the combined European sports betting business, saw a 5.7% increase in revenue in the first nine months of 2022.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Future of Online Casino Gaming | Licensed\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T00:08:41+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/\",\"url\":\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/\",\"name\":\"FL Entertainment: Sports Betting Revenue Up 5.7%\",\"isPartOf\":{\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/#website\"},\"datePublished\":\"2024-06-27T00:08:41+00:00\",\"dateModified\":\"2024-06-27T00:08:41+00:00\",\"author\":{\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"FL Entertainment, the new name for the combined European sports betting business, saw a 5.7% increase in revenue in the first nine months of 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/2024\/06\/27\/fl-entertainment-reports-strong-revenue-growth-in-first-nine-months-of-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/freecashnodepositbonuscasino.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FL Entertainment Reports Strong Revenue Growth in First Nine Months of 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/freecashnodepositbonuscasino.icu\/#website\",\"url\":\"https:\/\/freecashnodepositbonuscasino.icu\/\",\"name\":\"Experience the Future of Online Casino Gaming | Licensed\",\"description\":\"Stay informed and maximize your gambling experience with our fresh casino news, honest reviews, and informative insights. 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