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La Française des Jeux (FDJ), France’s national lottery and gaming operator, stated Friday that it has reached a deal to buy the ZEturf business, which handles online horse-racing betting as well as online sports betting under the ZEbet name.
The ZEturf group is now worth EUR 175 million ($181 million) as a result of this purchase. Depending on results in 2023, further consideration may be paid. From 2024, the acquisition will be accretive to FDJ’s Sports Betting & Online Gaming BU’s contribution margin.
The transaction is likely to conclude in the second half of 2023, assuming all preconditions are satisfied, including clearance from the French Competition Authority, according to the parties.
Stéphane Pallez, Chairwoman and CEO of FDJ Group, 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.”
Emmanuel de Rohan-Chabot, founder of ZEturf group, said that the deal is “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 by this tie-up.” He added:
“Twelve years after online betting was opened up to the competition in France, the tie-up between the ZEturf group and FDJ Group’s online betting business marks a new stage in our development, bringing together the strengths of two complementary operators.”