The French national lottery operator, Française des Jeux (FDJ), has reached an agreement to purchase the online horse racing and sports betting brand ZEturf Group.
FDJ stated that the transaction values ZEturf at €175 million (£152.7 million/$181 million), with the possibility of additional compensation contingent on 2023 performance.
The news followed FDJ’s entry into exclusive discussions regarding a potential agreement in September. The company indicated that the acquisition will be incorporated into a broader strategy to expand its presence within the French online gambling sector.
Established in 2001, ZEturf employs approximately 100 individuals and generated revenue approaching €50 million in 2021.
“This transaction, coupled with the launch of our poker offering, collectively strengthens our growth prospects. FDJ will emerge as a prominent player in the French open-competition online gaming market, while adhering to our model of entertainment, responsible and redistributive gaming,” remarked Stéphane Pallez, CEO and Chairman of the Board of Directors of FDJ.
Emmanuel de Rohan-Chabot, the mastermind behind ZEturf, declared: “After a dozen years of open competition in the online gambling scene in France, the alliance between the ZEturf Group and the FDJ Group in the realm of online sports wagering signifies a pivotal milestone in our journey, merging the strengths of two entities that complement each other.
“This collaboration also presents an opportunity for our workforce to apply their knowledge and skills within a highly motivated and ambitious organization, reaping the benefits of the synergy created by this partnership.”
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