The French national lottery operator will buy ZEturf Group to expand its sports betting presence.
France.- Française des Jeux (FDJ) has agreed to acquire online horse racing and sports betting brand ZEturf Group. It will pay €175m, with the possibility of an additional consideration depending on performance in 2023.
The FDJ had announced that it had entered exclusive negotiations about a possible acquisition of the online horse racing and sports betting brand in September. The deal will help it expand its presence in the online gambling market.
ZEturf, which was established in 2001, has around 100 employees. It processed close to €800m in wagers and over €100m in pool bets in 2021, with half of its bets coming from online horse racing betting. Revenue came in at close to €50m.
FDJ chief executive and chairwoman Stéphane Pallez said: “With this transaction and the launch of our poker range, which together strengthen our growth prospects, FDJ is optimally positioned to become a major player in the French market for online games open to competition, while remaining true to our recreational, responsible and redistributive gaming model.”
ZEturf founder Emmanuel de Rohan-Chabot said: “12 years after online betting opened up to competition in France, this deal between the ZEturf group and FDJ Group’s online sports betting business marks a new stage in our development, bringing together the strengths of two complementary operators.
“It’s also an opportunity for our staff to bring their expertise to bear as part of a highly engaged, ambitious group and to benefit from the synergies created.”