Friday, September 25, 2009

France Set To Deliver Boost To U.K. Gambling - 23rd September 2009

PartyGaming Plc, William Hill Plc and 888 Holdings Plc, U.K. gambling companies facing a slowing market at home, may get a boost as neighboring France opens its online-betting market to foreign operators next year.

A bill that comes before the French parliament Oct. 7 would let foreign companies offer sports betting and poker, ending the monopolies of state lottery provider Groupe Francaise des Jeux and Pari Mutuel Urbain, which runs gambling on horseracing. All other online betting is currently banned.

“The size of the population and the appetite for gambling, and the group’s historically cautious approach to France make this a particularly exciting opportunity for us,” said Jim Ryan, chief executive officer of PartyGaming, the owner of the brand and the U.K.’s biggest online-gaming company by revenue. (Credit: Bloomberg) *full story

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