French joint venture for Ladbrokes

A first for British online gambling group

The UK's largest online and land gambling group Ladbrokes looks set to enter the newly liberated French market for the first time in its century-and-a-quarter corporate history.

Spearheading the move to compete in the French online gambling sector will be Ladbrokes' joint venture deal with the major French media company Groupe CANAL+

Ladbrokes' chief of online gambling operations, John O'Reilly says:"We believe that there is an opportunity to build a good business in France over time as the market and regulation develop."

The equal-participation JV with CANAL+ will see Ladbrokes provide its betting and gaming knowledge and technology, while its French partner will provide access to media, brand, potential consumers and
its experience of operating in the French market.

Each company will provide Euros 2.25 million as initial funding for the venture.

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