UK Gambling Companies May Be Saved By France Market

UK gambling companies have not had the best of times the past couple of years. Profits are down at home, and that has led several big companies to relocate their online gambling operation home to Gibraltar. The companies that are left may soon be receiving a nice boost in revenue.

It is expected that next year, the French market will open up to foreign companies. There is a Bill that will be discussed in early October that would legalize outside companies coming in to the French gambling market.

PartyGaming, and 888 Holdings may get a shot in the arm, and even the companies that have relocated such as William Hill and Ladbrokes could benefit from being allowed into France. The additional revenue would more than offset the losses the companies have been experiencing at home.

"The size of the population and the appetite for gambling, and the group's historically cautious approach to France make this a particularly exciting opportunity for us," said Jim Ryan, Chief Executive Officer of PartyGaming, as reported on Bloomberg.com.

The tax rates for potential out of country companies has not yet been set in France. First, the Bill must be approved, then the government would move forward with setting up the regulations for online gambling in the country.

Sports gambling and online poker would be the two gambling outlets that would be opened up. The most recent proposed tax rate on sports betting would be 7.5%, and on poker it would be 2%. France is just one of several European countries that are in the process of changing their online gambling laws.

September 23, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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