The online gambling partnership in France between UK gambling group Ladbrokes and French media group Canal+ appears to have reached its end this week with the news that the UK company has decided not to enter the French internet gambling market.
A Ladbrokes spokesman revealed that the company would be pulling out of its partnership with Canal+ and indicated that high French taxation was one of the motivations behind the decision.
Commenting on Ladbrokes' decision Gary McIlraith, Ladbrokes managing director of digital channels, international and strategy said: "Together with our partners we have concluded that the French market is now taxed at such a prohibitive level that it does not represent an attractive investment. We will continue to monitor the French marketplace but for the time being will not progress with the launch plans."
Ladbrokes joins Sportingbet and Paddy Power as high-profile operators who have decided against entering the market on a B2C basis, with Sportingbet also opting to cancel its B2B agreements with newspapers Le Monde and L'Express.
In related news, French media are currently reporting that internet gambling group Unibet, which had earlier voiced reservations regarding the French market, has achieved licencing status with French regulator ARJEL in respect of sports betting, poker and horse racing operations.
Unibet hopes to be operational in the French market by Q4,2010 / Q1,2011
Source: InfoPowa News