Ep 717: FDJ’s €50m Tax Hit: Can Kindred Integration Steady the Ship?

In today’s episode of iGaming Daily, SBC Media Manager Charlie Horner is joined by SBC Media Director Martyn Elliott and SBC Editor-at-Large Ted Menmuir as the trio discuss whether tax hikes and regulatory pressures have derailed FDJ’s growth story and if the Kindred acquisition is enough to restore investor confidence.

Following the 2025 results from FDJ United, CEO Stéphane Pallez openly attributed a dramatic profit decline to rising European tax burdens, while leadership changes, including the departure of Nils Anden, signal a new phase post-Kindred integration.(Read More)

With profits halved, EBITDA under pressure and investors now benchmarking FDJ against global heavyweights, the team asks if this is a temporary tax burn or a deeper structural concern. (Read More)

Tune in to today’s episode to find out:

• Why FDJ’s profits were cut in half and whether tax hikes alone tell the full story
• If the €50m tax hit proves industry warnings about regulatory pressure were justified
• What the first year after acquiring Kindred Group really says about FDJ’s online transformation strategy
• How the departure of Nils Anden reshapes the leadership outlook heading into 2026
• Who FDJ is now being compared to among Europe’s gambling giants and whether that comparison is fair

Host: Charlie Horner
Guests: Martyn Elliott & Ted Menmuir
Producer: Anaya McDonald
Editor: Anaya McDonald

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