Online Casino Transfer: News - Francaise Absorbs LVS

04/12/2010		Online Casino Style: News Francaise Absorbs LVS
Home History Games News Dictionary		More internet gambling news hits the circuit this week from the soon-to-be-liberalized French market as one of the leaders of the local market make the announcement that they have entered into negotiations to own their own software provider. According to reports, Francaise des Jeux has taken ownership of LVS, one of the online gambling software providers to the French monopoly. Whether it’s a direct correlation or not, its interesting to note that the significant purchase comes just months after Francaise des Jeux commissioned LVS to build and operate a fixed odds sports betting platform for them, an acquisition that is now wholly theirs outright. The purchase information has not been released to the online gambling press. “This is an important acquisition in the context of the opening of the French online betting market to competition,” said Christophe Blanchard-Dignac, chief exec of Francaise des Jeux. “By buying this company, La Française des Jeux reinforces its technological control on the overall activity sports betting and lotteries in the stake of the safety of our customers.” Similar statements were released by the executives for LVS, as Simon Ordish said that they were delighted to having been purchased by the monopoly. Calling it an ‘opportunity,’ Ordish said that the future changes would allow them to take business to the next level. The firm already has existing offices in both Gibraltar and the United Kingdom, but employs only about 40 people. Comparitively, Francaise des Jeux’s sporting betting division alone was worth some €783 million last year, accounting for only 8 percent of their total revenues.

04/12/2010

Online Casino Style: News
Francaise Absorbs LVS

More internet gambling news hits the circuit this week from the soon-to-be-liberalized French market as one of the leaders of the local market make the announcement that they have entered into negotiations to own their own software provider. According to reports, Francaise des Jeux has taken ownership of LVS, one of the online gambling software providers to the French monopoly.

Whether it’s a direct correlation or not, its interesting to note that the significant purchase comes just months after Francaise des Jeux commissioned LVS to build and operate a fixed odds sports betting platform for them, an acquisition that is now wholly theirs outright. The purchase information has not been released to the online gambling press.

“This is an important acquisition in the context of the opening of the French online betting market to competition,” said Christophe Blanchard-Dignac, chief exec of Francaise des Jeux. “By buying this company, La Française des Jeux reinforces its technological control on the overall activity sports betting and lotteries in the stake of the safety of our customers.”

Similar statements were released by the executives for LVS, as Simon Ordish said that they were delighted to having been purchased by the monopoly. Calling it an ‘opportunity,’ Ordish said that the future changes would allow them to take business to the next level. The firm already has existing offices in both Gibraltar and the United Kingdom, but employs only about 40 people. Comparitively, Francaise des Jeux’s sporting betting division alone was worth some €783 million last year, accounting for only 8 percent of their total revenues.