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French Inroads for Online Casino Companies

The French internet gambling market is just a couple of months away from opening and foreign online casinos are gearing up for entry into this previously closed, and potentially lucrative internet gambling market. The French government has warned internet gambling companies to steer well clear of the French market until the new regulations are actually implemented; companies that choose to preemptively enter the French market will likely be denied a French license for future internet gambling. Paddy Power though has the right idea, this major international online casino bookmaker has spent this time before the regulations actually take effect building relationships and partnerships that will give the bookmaker an immediate launch into the French market once the new regulations are implemented.

Essentially, Paddy Power announced that the internet gambling group struck a deal with the current French land and online casino gambling monopoly, Pari Mutuel Urbain. The deal has been solidified between the two companies and Paddy Power announced that the full partnership betting offerings would launch into the French market around May or June of next year, 2010. Paddy Power, like so many online casinos and gambling groups, is hanging onto share values with a precarious line. The economic recession over the past year has hit many companies hard and any way to boost shareholder and investor confidence is widely welcomed.

To that end, Paddy Power’s announcement that the online casino bookmaker was now partnered with PMU increased the company’s stock value by a significant 5.6 percent. The deal is really quite strong for both companies and Paddy Power likely scored a bit of a coupe over other major internet bookies by securing PMU into a five-year outsourcing agreement for betting and gambling technology.