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Unibet to re-enter French market with EuroSport brand
Swedish online gaming company Unibet is looking to make a return to the French market following an acquisition agreement with Solfive Group, PokerFuse reports.
Solfive Group is the operator of the French Eurosport-branded poker and betting operator, and the return will as such not mean that the Unibet brand will re-enter the market independently.
Unibet was formerly granted a French operating license by French gaming regulators ARJEL under its .fr domain, but chose to withdraw from the market earlier this year.
Unibet back cited a steep 26.8% revenue-based tax as the main reason for the withdrawal, among other things claiming that the levied tax made it impossible for the business to produce sustainable numbers.
The company was joined by a handful of other foreign operators, including British betting giant Ladbrokes.
After having acquired Solfive, Unibet however seems to once again believe in the possibilities of the French market, according to CEO Henrik Tjärnström.
"Event though we recognize that it will be difficult to generate profits in the short term under the current terms and conditions, we consider that over the medium term France will develop a more sustainable model that will better achieve the goals of player protections, fair competition and reasonable taxation," Tjärnström said.
"With this acquisition, Unibet can re-enter the French market at a limited cost to take advantage of the longer-term opportunities," he added.
Unibet is today one of the biggest and most successful skins on the Microgaming Network, with more than 130,000 active customers worldwide.
Solfive Group is the operator of the French Eurosport-branded poker and betting operator, and the return will as such not mean that the Unibet brand will re-enter the market independently.
Unibet was formerly granted a French operating license by French gaming regulators ARJEL under its .fr domain, but chose to withdraw from the market earlier this year.
Unibet back cited a steep 26.8% revenue-based tax as the main reason for the withdrawal, among other things claiming that the levied tax made it impossible for the business to produce sustainable numbers.
The company was joined by a handful of other foreign operators, including British betting giant Ladbrokes.
After having acquired Solfive, Unibet however seems to once again believe in the possibilities of the French market, according to CEO Henrik Tjärnström.
"Event though we recognize that it will be difficult to generate profits in the short term under the current terms and conditions, we consider that over the medium term France will develop a more sustainable model that will better achieve the goals of player protections, fair competition and reasonable taxation," Tjärnström said.
"With this acquisition, Unibet can re-enter the French market at a limited cost to take advantage of the longer-term opportunities," he added.
Unibet is today one of the biggest and most successful skins on the Microgaming Network, with more than 130,000 active customers worldwide.
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