9th of September 2010 Author: Glo Wood
Private equity firm invests in horserace betting operator
The Malta-licensed online tote betting operator Zeturf has been given a financial boost with an investment of Euro 9 million from French private equity company IDInvest, which also has internet gambling interests in the French online poker site Winamax
IDInvest partner, Matthieu Baret, told French online media this week: 'Opening up horserace betting in France to the competition is a fantastic opportunity for Zeturf, which has now reached a customer base and critical size allowing it to provide a mutual betting offer, either directly or customer-branded, that is simple, credible and effective.'
Zeturf, which competes in the French market with PMU.fr, was founded in 2001, and within three years was boasting a player base in excess of 150 000. According to its latest financial disclosures the company generated revenues of Euro 150 million in 2009 - an increase over the previous year of an impressive 45 percent.
Commenting on the new investment, Zeturf chief exec Emmanuel de Rohan Chabot said that the infusion of capital would be mainly used to boost marketing initiatives to maintain and increase growth.
In July this year Zeturf was among the first companies to achieve licensing fro reglator ARJEL in the newly liberalised French market, where it has negotiated a collaborative association with the online gambling giant Unibet.
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