Each firm to provide 2.25 million euros as initial funding for the venture
Ladbrokes to launch French joint venture
2010-04-09
Reading time 19 seg
"We believe that there is an opportunity to build a good business in France over time as the market and regulation develop," said Ladbrokes' managing director of remote betting and gaming John O'Reilly.
Under the 50:50 joint venture, Ladbrokes will provide its betting and gaming knowledge and technology, while premium pay TV provider CANAL+ will provide access to media, brand, potential consumers and its experience of operating in the French market. Each company will provide 2.25 million euros as initial funding for the venture.
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