FDJ completes acquisition of ZEturf Group

Paris-listed gaming operator La Française des Jeux (FDJ) has completed the acquisition of French online horse race betting operator ZEturf Group.

FDJ has paid €175 million to acquire the business after receiving approval from the French Competition Authority (Autorité de la Concurrence) last month.

The acquisition makes FDJ the fourth biggest operator in France’s competitive online gaming market (sports betting, horse race betting and poker), with a market share of over 10 per cent.

“The acquisition of ZEturf marks a new chapter for La Française des Jeux and strengthens our position in the French market for online games open to competition,” said FDJ chairwoman and CEO Stéphane Pallez.

“Following the launch of our poker business, our entry into the world of online horse race betting rounds out our diversified online range and bolsters FDJ Group’s growth prospects while remaining aligned with our responsible gaming model.”

Founded in 2001, ZEturf is France’s second largest online horse race betting operator behind PMU, and entered the online sports betting market in 2014 with the launch of ZEbet. Last year the company generated over €50 million in revenue.

FDJ said that following the acquisition, it will put in place a new organisational structure for the ZEturf business, in line with the commitments made to the French Competition Authority.

Shares in La Française des Jeux SA (EPA:FDJ) closed 1.30 per cent lower at €30.40 per share in Paris Monday.