PMU and Paddy Power: the new partnership

Pari Mutuel Urbain, the French gambling monopoly, has made a deal with Irish Paddy Power, an online gambling group, and hopes to establish a solid base for the company as up to 2010 the French gambling market is now open. The Paddy Power bulletin’s results that it would hit this year’s market goals and the deal with PMU increased its stock worth yielding a five point six percent growth.

The Reuters News Agency reported that the agreement with PMU will cause Paddy Power to make a commitment for five years outsourcing transaction providing waging technology and costing to France’s horse racing operator, making it Europe’s biggest organization for gambling with a 2008 year turnover of nine point three billion euros.

Jack Massey, Paddy Power’s financial director, anticipates the transaction with PMU to become valid sometime in May or June 2010, increasing revenue by some three to five million euros – according to Reuters. As this deal, as it comes on line will promote additional partnerships and additional business deal opportunities for the firm, this can only be considered as the starting point for Paddy Power.

In an interview with Reuters, Massey claimed that the power of the transaction is partner quality providing them with a first class calling card of potential additional emerging opportunities.

Paddy Power’s chief executive officer, Patrick Kennedy, stated that deal with PMU was an outstanding beginning for the firm’s novel B2B division, and that the company would be exploiting its specialization and technology to finalize deals with additional firms dealing in betting.

Pari Mutuel Urbain’s chief executive officer, Philippe Germond, stated in regard to the agreement that this cooperation will allow PMU to provide online sporting wagers through its own brand and maintain its customer database through direct administration. Skill in sports betting will be provided to it by Paddy Power. PMU will be provided with the ability to be prepared for France’s next years opening of the internet betting market thanks to the partnership with PMU.

Back to Online Gambling News - December 2009
Online Casino Latest News
Online Casino News Archive