Sports Betting Firm to Expand Its Market

It’s confirmed, sports betting firm Paddy Power is set to expand its market by entering the French gambling market itself through a major horse racing deal. The firm has already signed a five-year contract that is about providing technology, events management and even pricing services to Pari Mutuel Urbain or the PMU which is a state-controlled betting organization in France.

According to Times, Paddy Power went through a competition, against other sports betting firms just like Ladbrokes and William Hill. But then being the strongest, the Irish bookmaker managed to win the PMU contract.

The deal is anticipated to bring some good things for the Paddy Power. Chief Executive Patrick Kennedy himself, believes that the deal could boost the strategic objectives of the firm in other international gambling markets, and naturally this is something that can really be good for the firm.

“If you are building an international business and marketing to media organizations, lotteries and gambling companies, being able to talk about the PMU deal is a fantastic calling card”, Kennedy actually said.

For the record, PMU had a turnover of €9.3 billion or £8.4 billion last year and has been visible in nearly 10,000 retail outlets across France. While what’s really notable with Paddy Power is its expansion earlier this year into the Australian gambling sector by having a 51 percent stake in the online bookmaker Sportsbet.

It seems like a good tandem, Paddy Power – PMU. Not to mention that they can benefit from each other. But then of course, we have no ability to see the future, all we can do is to make assumptions or conclusions. Let us just see what’s really going to happen in the next days or in the next months. Even also in the next years, as the contract is actually a five-year contract.

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