Reports Question Offshore Licensing

France’s gaming giant FDJ United is facing increased scrutiny following reports by Le Monde and ABC News that its subsidiary Relax Gaming obtained a B2B licence from Anjouan, a small Indian Ocean jurisdiction linked to offshore and black-market gambling operations.

The revelations have placed the French group’s compliance and governance measures under the spotlight, particularly as Relax Gaming continues to supply software to global operators under its new licence. The company was folded into FDJ United as part of the group’s €2.5 billion acquisition of Kindred Group, completed in 2025.

Why This Matters

Anjouan, one of the Comoros Islands, has recently emerged as a favored licensing hub for offshore operators amid regulatory clampdowns in Curaçao and Malta. Industry analysts note that the shift reflects operators’ search for low-cost, lightly regulated jurisdictions, often outside mainstream oversight.

According to Le Monde, Relax Gaming obtained the Anjouan licence in November 2025 “to service operators licensed on the island.” The report described Anjouan’s gaming oversight as a “fictitious regulatory framework”, adding that the so-called Gaming Commission’s website appears to be run by a private company called Anjouan Licensing Services Inc. (ALSI).

Meanwhile, ABC News alleged that some companies licensed in Anjouan were “black-market betting sites targeting Australian players illegally.” It further cited warnings by the Comoros Central Bank that several regulators on the island were “fictitious structures.”

FDJ United’s Response

Subsidiary Defends Its Compliance Standards

FDJ United issued statements defending Relax Gaming’s licensing decisions, insisting the company operates strictly within a B2B intermediary structure and does not engage in any commercial activity directed toward the public.

Relax Gaming said it upholds a “demanding internal compliance framework”, including:

  • A restricted territories policy, prohibiting access to its products in unlicensed markets.
  • Due diligence and regular audits of client operators.
  • A system of content deactivation when misuse is detected — including for France and other restricted jurisdictions.

FDJ confirmed these measures are designed to prevent indirect exposure to unlicensed operators, even as the company maintains commercial relationships with firms based in offshore jurisdictions.

Broader Context: Offshore Licensing and Regulatory Pressure

A Growing International Problem

Anjouan’s rise as a licensing centre follows increased pressure on Curaçao, historically a hub for online gambling companies, to tighten compliance under Dutch supervision. It also comes amid scrutiny of Malta’s licence recognition model within the EU, with countries like Germany and Austria pushing back against cross-border targeting by Malta-licensed firms.

Journalist Philippe Auclair, speaking at the AFJEL annual meeting in November 2025, cited Anjouan and similar jurisdictions — including Vanuatu and Nevis — as part of “a new layer of minimal-compliance regimes” servicing cryptocurrency-based and offshore gambling ventures.

The topic has also overlapped with recent discussions involving Evolution’s UK licence review and B2B supplier accountability in global markets, raising questions about how far major brands can — or should — vet the licensing environments of their partners.

Key Questions for FDJ United

Industry analysts, regulators, and investigative reporters are now pressing FDJ on several fronts:

  • Why maintain an Anjouan licence while operating in regulated European markets?
  • What direct oversight does FDJ have over Relax Gaming’s offshore B2B clients?
  • Could other former Kindred subsidiaries hold similar offshore links?

So far, FDJ United has opted to contextualize the matter within standard B2B licensing practice, noting that Relax Gaming’s business model mirrors that of other global game suppliers who must “maintain lawful contractual dealings with licensed B2C operators” even in flexible jurisdictions.

Summary

The Anjouan licence controversy surrounding Relax Gaming has sparked fresh debate over how major European betting groups manage their international subsidiaries and navigate varying global regulatory standards. While FDJ United insists on full compliance, scrutiny from media and watchdogs underscores the ethical and reputational challenges of operating in — or adjacent to — lightly regulated offshore markets.