27th of October 2010 Author: Johnny Karp
Ladbrokes Explains: Taxation major issue
Even though there were announcements about the partnership in France between UK gambling group Ladbrokes and French media group Canal+, it seems that Ladbrokes decided to withdraw and not enter the French internet gambling market. According to the company's spokesman, one of the reasons for such a decision is the high French taxation.
'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,' said Gary McIlraith, Ladbrokes managing director of digital channels, international and strategy.
There are other operators who also gave up entering the market on B2C basis, such as Sportingbet and Paddy Power, while Sportingbet also cancelled the B2B agreements it had with Le Monde and L'Express newspapers.
On the other hand, there are reports in the French media that Unibet, an online gambling group which previously expressed doubts about the French market, has received licensing status for sports betting, poker and horse racing operations from the French regulatory body ARJEL. The company was hopeful about beginning its operations in France by Q4 2010 / Q1 2011.
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