(Boursier.com) — The French Games (FDJ) announces the finalization of the acquisition of the ZEturf group, operator of online horse racing betting as well as online sports betting under the ZEbet brand, for a company valuation of 175 million euros. This finalization comes following the authorization decision of the Competition Authority on September 15.
Founded in 2001, the ZEturf group has around a hundred employees and achieved a turnover of more than 50 million euros in 2022. ZEturf is the 2nd online horse racing betting operator in France, with a market share of around 20%. This acquisition allows the FDJ group to become the 4th player in competitive online gambling in France (sports betting, horse racing betting and poker), with a market share greater than 10%.
In order to fully benefit from the potential of the merger with ZEturf and the synergies within its competing online activity, the FDJ group will adopt a new organization of this activity, in accordance with the commitments made to the Competition Authority.
For Stéphane Pallez, Chairman and CEO of FDJ: “The acquisition of ZEturf opens a new chapter for La Française des Jeux and strengthens our position in the French competitive online games market. After the launch of a poker activity, our entry into the world of online horse racing betting completes the diversification of our online offering, and reinforces the growth prospects of the FDJ group in compliance with its responsible gaming model.”
©2023 Boursier.com