French national lottery operator Française des Jeux (FDJ) has finalised its acquisition of online horse racing betting site ZEturf Group.
The announcement completes a process that began in November last year when FDJ struck the acquisition deal. The transaction places ZEturf’s value at €175.0m (£151.6m/$185.0m).
Completion comes after the French Competition Authority (l’Autorité de la Concurrence) gave its approval to the deal last month.
Founded in 2001, ZEturf employs approximately 100 people and generated over €50.0m in revenue in 2022. Alongside online horse race betting, it offers internet sports betting via the ZEbet brand.
“The acquisition of ZEturf marks a new chapter for FDJ,” CEO and chairwoman of FDJ, Stéphane Pallez, said. “It strengthens our position in the French market for online games open to competition.
“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..