PMU signs PartyGaming to launch online poker in France

Under the terms of the agreement, the two companies will co-operate to create a PMU-branded online poker service based on PartyGaming's poker software which will be integrated into PMU's own player account systems.

The PMU poker service will also provide access for players to the shared player liquidity on PartyGaming's French poker network which will include Partypoker.fr. With the imminent opening of the French online gaming market to competition, PartyGaming said that the poker service will be available once the two parties have both obtained the required French licences.

“Today's agreement with PMU is consistent with our stated strategy of securing a small number of high value partners in regulated markets,” said Jim Ryan, CEO of PartyGaming. “PMU is widely recognised as one of Europe's leading betting businesses and we look forward to providing them with a world class poker service.”

PMU recently announced its twelfth year of consecutive growth with turnover of 9.3 billion euros, of which 660 million euros was generated from its PMU.fr online betting site. The company earned gross profit of 2.2 billion euros in 2009 and numbers more than 6.5 million customers in France.

The deal with PMU comes just two months after PartyGaming sealed its most significant B2B deal to date, signing a five year contract to provide an online casino and poker platform to Danish gaming monopoly holder Danske Spil.

Founded in 1891, PMU is France’s pari-mutual horse racing company and is the largest horse race betting organisation in Europe. PMU recently announced its twelfth year of consecutive growth, with turnover of 9.3 billion euros, of which 660 million euros was generated from the www.PMU.fr betting website and a gross profit of 2.2 billion euros in 2009. PMU has more than 6.5 million customers in France using 10,000 retail outlets.

Shares in PartyGaming will commence trading at 328.80 pence per share in London this morning.