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ILIAD PULLS OUT OF FRENCH ONLINE MARKET

July 7,2012 :  ILIAD PULLS OUT OF FRENCH ONLINE MARKET
 
Another victim of the stringent French tax regime
 
French telecommunication service provider Iliad S.A. has ceased its online poker and sportsbetting activity in the French market operated via its subsidiary Iliad Gaming.
 
Iliad Gaming websites Chilipoker.fr and Chilipari.fr, run in partnership with Gameinvest Holdings, will close according to an interview given to LaTribune by Thomas Reynaud, chief financial officer and chief development officer of Iliad.
 
"This is not the heart of our business. The competitive environment and the online games tax regime do not support a new market player or allow the company to operate viably," said Reynaud.
 
Chilipari.fr reportedly stopped taking bets on July 3 and will close down entirely on July 9, 2012.  Chilipoker.fr intends closing its virtual doors within the next few weeks.
 
Reynaud revealed Iliad Gaming websites had suffered cumulative losses of Euro 4 million in two years.  La Tribune emphasised that they had fared better than other operators such as Française des Jeux, Groupe Lucien Barrière and Karmitz- owned LB Poker's almost Euro 30 million loss to 3.3 million in revenue and others who suffered heavy losses which include BetClic Everest Group and TF1 (EurosportBET).
 
Ownership of Iliad's white label TurboPoker will reportedly transfer to an unnamed third-party.



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