Online gambling group Paddy Power and Pari Mutuel Urbain, the French gambling monopoly, recently cut a deal for the Irish gambling company to move to the French Gambling market. Paddy Power has committed to a five year outsourcing deal to provide betting technology and pricing to Pari Mutuel Urbain.

The new deal is expected to come into effect around May or June 2010 and should see Paddy Power earning 3 to 5 million Euros in revenue by 2012, according to Jack Massey Paddy Power’s financial director.

The Chief Executive Officer for Paddy Power, Patrick Kennedy, commented that the agreement with PMU is an impressive start for the company’s B2B division, and the firm will be capitalizing on its expertise and technology to close agreements with other major betting companies.

Commenting on the deal as well was Philippe Germond the Chief Executive Officer of the Pari Mutuel Urbain. He stated: "This partnership is going to enable PMU to offer sporting bets online under its own brand and retain direct management of its client database. 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."




- 2009-11-16