Groupe FDJ continues its M&A expansion, announcing that it has entered an agreement to acquire French racebook operator ZEturf Group.
This morning FDJ notified investors that it had concluded negotiations with ZEturf leadership, settling on “a transaction valued at €175m”.
Founded in 2001 by the Rohan Chabot family, ZEturf operates the ZEbet online racebook, which in 2004 was granted rights to offer markets on France Galop fixtures.
ZEturf stands as the only competitor to Pari Mutuel Urbain (PMU), France’s state-controlled betting system that is co-owned by French racing authorities and equine associations.
Since 2014, ZEturf has expanded the market offerings of ZEbet, adding full sportsbook provisions, growing “to 100 employees and generating nearly €50 million in revenue in 2021.
ZEturf Group founder Emmanuel de Rohan-Chabot, commented; “Twelve years after online betting was opened up to competition in France, the tie-up 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.”
2022 has seen FDJ bolster its operating capacity and retail network, having executed the back-to-back acquisitions of point-of-sale payment network ALEDA and French payment solutions provider BiMedia.
Beyond 2022, Company leadership has outlined FDJ’s ambitions to dominate French sports betting for online and retail disciplines, seeking to upgrade and add new components to its standalone Parions Sport domain.
The deal requires approval by the French Competition Authority, as FDJ expects to complete its acquisition of ZEturf by the second half of 2023 trading.
“I’m delighted that we’ve signed an agreement to acquire the ZEturf group, a key player in online horse-race betting,” remarked FDJ CEO & President Stéphane Pallez.
“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.”
Source: SBC News
