Ladbrokes yesterday announced that it has signed a conditional joint venture agreement with Groupe Canal+ to target the French market through the launch of an online betting and gaming service, which will be licensed and regulated in France.
The move marks Ladbrokes’ first move into the French market, which is currently dominated by retail products such as PMU horserace pool betting and lottery products offered by Française des Jeux.
The new joint venture will launch under a new brand name reflecting the product and the association with Groupe Canal+, a premium pay TV provider in France. It is planned that the joint venture will launch the new service during the course of 2010, subject to the new regulations, which were approved by the French legislature on April 6.
Under the terms of the joint venture it is intended that Ladbrokes will provide its betting and gaming expertise and technology to the joint venture company. Groupe Canal+ will provide access to media, brand, potential consumers and its experience of operating in the French market.
Ladbrokes’ MD of remote betting and gaming, John O’Reilly, said: "We believe that there is an opportunity to build a good business in France over time as the market and regulation develop."
