French media group Television Francaise 1 SA (TF1) has confirmed the sale of its online gambling subsidiary SPS and named the buyer as Solfive, a company which operates in the French market.
According to the publication Capital.fr no details of the consideration paid have been released.
Management expertise at SPS will be retained by the buyer in the form of SPS chief exec Olivier Ou Ramdane, who is a partner in the purchasing company.
SPS Betting operates the Eurosportsbet site, which TF1 chief exec Nonce Paolini noted in January this year had not performed satisfactorily, and should be sold.
The deal has been approved by the relevant employee representative bodies and is expected to be implemented within the next few weeks, subject to French regulator ARJEL's approval.
Prior to the opening up of the French market, GTechG2-powered Eurosportbet’s scope was limited as it operated only in the UK, with around 60 employees and a small number of traders in based in Paris. It launched a UK-targeted online poker site on the Ongame network in September last year, after moving into the liberalised French market with a French-dedicated website.
Source: InfoPowa News