FRANCE-PARI ACQUIRES BETNET

December 9, 2011 : Player base will almost double after acquisition
 
Speculation this week was put to bed with the news that France-Pari has acquired BetNet.fr who was declared bankrupt last month and placed under control of The Commercial Court of Compiègne (CCC).
 
France-Pari has acquired the firm's database of 13 500 player accounts, of which 4000 are deemed "truly active", the brand, domain name and is retaining one of the four company employees, reports Les Echos.  The acquisition immediately boosts France-Pari's player base by almost double.
 
"Sorry to let go of a good product but we are happy that the activity continues and no-one was badly affected," said BetNet president, Patrick Barbe.
 
Barbe is bitterly outspoken on the lack of an open French internet horse race betting market and weighty taxation.
 
BetNet players will be provided a France-Pari account to which they can transfer following which the brand will be mothballed.
 
According to France-Pari's founding president, Hervé Schlosser, France-Pari's "arrival" to online horse race betting from sports betting will result in its partnership with Zeturf being implemented providing good competition to 85 percent strong market share holder Pari-Mutuel Urbain (PMU).
 
The consideration paid was undisclosed.