France Pari completes Betnet acquisition
French operator to transfer players from horse betting site onto own product which will launch on 15 December.
Sports betting operator France Pari has completed the acquisition of Betnet.fr for an undisclosed sum, just a week after the horse betting company entered into administration.
The deal was completed yesterday after administrator Jean Rongeot named France Pari as his preferred buyer.
Betnet will be closed down and the customers transferred to France Pari over the next 10 days, with France Pari to launch its own horse betting product on 15 December using its horse betting platform, which is used by the likes of Joao Online and NetBet.
Three of Betnet’s four employees have been made redundant with only community manager Alexis Munteanu retained, working across horse racing and sports betting. Denis Bastiment, general manager of Betnet, will work with France Pari on a temporary basis to assist with the transfer of players.
France Pari founder and CEO Hervé Schlosser revealed that the deal was a “low risk” investment: “We are setting up a horse betting product at almost no additional cost, and do not expect to deliver enormous revenues, but it is a chance to enhance our bottom line. Betnet holds around 1.5 to 2% of the French horse betting market, and we won’t be looking to aggressively grow this market share.”