This marks the second major investment by IDI in the past five months, as the company (then called AGF Private Equity) also invested €12 million in Winamax, a supplier of French poker rooms, in May.
IDInvest further into French Gambling with €9 Million Investment
Two months into the regime of new French gambling laws, interest in entering the lucrative market is still increasing. The latest commitment
Two months into the regime of new French gambling laws, interest in entering the lucrative market is still increasing. The latest commitment to French gamers comes from private equity firm IDInvest, who has announced the contribution of €9 million in capital injection into ZEturf.
ZEturf is the France-based tote-betting operator offering pari-mutuel horse race betting that hopes to compete with local leader Pari Mutuel Urbain (PMU), which had enjoyed monopolistic privileges before the French gambling laws were changed. ZEturf CEO Emmanuel de Rohan Chabot commented that “The confidence of the IDInvest teams gives our development strategy a boost.”
According to official figures, ZEturf recorded a 45% year-on-year increase in amounts staked to €150 million in 2009 and currently servers over 150,000 active users.