Paddy Power Enters French Sportsbetting Market - 11-17-09

November 17 - As the French government prepares to change the gambling laws in the country next year, gambling groups and operators from around the world are eyeing the industry to see how they can get a foot in the door and benefit from these reforms.

Paddy Power, Ireland's most powerful gambling group, has announced a deal signed with the French gaming monopoly Pari Mutuel Urbain (PMU) which is expected to create excellent opportunities for the group in the French market.

Paddy Power has committed itself to a five year outsourcing contract that will provide pricing and betting technology to PMU.

Pari Mutuel Urbain is considered the largest betting organization in Europe and has an annual turnover of €9.3 billion.

"The strength of the deal is the quality of the partner which gives us an excellent calling card of other such opportunities that may emerge," said the Chief Financial Director of Paddy Power, Jack Massey.

The deal, which is expected to come into effect towards the middle of next year, will add up to €5 million in revenue to Paddy Power's coffers by 2012.

"This partnership is going to enable PMU to offer sporting bets online under its own brand and retain direct management of its client database," said the Chief Executive Officer of PMU, Philippe Germond. "Paddy Power will provide us with its expertise in sports betting. Through this partnership PMU is given the means to be ready for the opening of the online betting market in France next year."

Paddy Power expects that the deal with PMU will open doors to other business opportunities in the French market, especially on a B2B basis.

Go to Paddy Power today.

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