La Française des Jeux (FDJ) has announced that it has finalised its acquisition of the ZEturf group, which operates online horse-race betting as well as online sports betting under the ZEbet brand, for an enterprise value of €175 million.

Founded in 2001, the ZEturf group has around a hundred employees and generated over €50 million in revenue in 2022. ZEturf is France’s 2nd-largest online horse-race betting operator, with a market share of around 20%. This acquisition makes FDJ Group France’s 4th-largest player in online gaming open to competition (sports betting, horse-race betting and poker), with a market share of over 10%.

In order to make the most of the potential offered by the tie-up with ZEturf and the synergies within its online business open to competition, FDJ Group will put in place a new organisational structure for this business, in line with the commitments made to the French Competition Authority.

Stéphane Pallez, Chairwoman and CEO of FDJ, commented: “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. 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.”