BUSINESS

EUROPEAN NEWS: BetClic Everest looking at expansion; Paddy might be off to the continent

TAGs: betclic everest group, Paddy Power, Stephane Courbit

betclic-everest-paddy-powerBetClic Everest’s former chairman has told a French newspaper that the gambling giant are weighing up plans to move into other European markets.

The outspoken Stephane Courbit told French daily Le Figaro that the company “could make acquisitions in Spain and Germany” ahead of any regulation that might end up taking place in the two countries.

Courbit last year condemned the French market’s exorbitant rate of tax and this may have also contributed to the company’s losses that have been attributed to their aggressive push into the world of sports advertising through deals with Olympique Marseille, Olympique Lyonnais and Juventus.

After releasing a record set of results earlier today, Irish bookmaker Paddy Power have also told of their plans for more growth in continental Europe.

In an interview with eGaming Review, COO Breon Corcoran pledged to “grow the group across Europe in the next few years,” and after their increased presence in Australia with the full acquisition of Sportsbet they may be about to enter Greece, Spain, or Denmark in the near future.

Corcoran continued: “It’s hard to know what happens next and who’s going to go first, but we’re looking at as many as we can and as best we can. It’s our intention to participate if we can and do so properly.”

“We have a very small Spanish language business so we already have some exposure, but it’s a case of waiting for clarity and not putting huge amounts of capital at risk through marketing and through brand building investment.”

He did also add that they would be sticking to regulated markets and not any of the “hairier stuff” that a number of their competitors are involved in.

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