Paddy Power saw off competition from other bookmakers for the PMU contract.
Paddy Power is set to move into the French gambling market with a major new horse racing deal.The Irish bookmaker has signed a five-year agreement to provide technology, events management and pricing services to France's state-controlled Pari Mutuel Urbain (PMU), the largest betting organisation in Europe.
According to the Times, Paddy Power fought off competition from British sports betting firms such as Ladbrokes and William Hill to secure the PMU contract.
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Chief executive Patrick Kennedy said that the deal could boost the company's strategic objectives in other international gambling markets.
He told the newspaper: "If you are building an international business and marketing to media organisations, lotteries and gambling companies, being able to talk about the PMU deal is a fantastic calling card."
PMU recorded turnover of €9.3 billion (£8.4 billion) last year and has a presence in almost 10,000 retail outlets across France.
Earlier this year, Paddy Power expanded into the Australian gambling sector by acquiring a 51 per cent stake in Sportsbet, the online bookmaker.
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