The PMU Reports stronger sales growth

Business News

The PMU recorded a 0.5% rise in horse betting in France in the second and third quarters, a reversal of the trend, which is welcomed by General Manager Cyril Linette, who launched a recovery plan in January in the face of the erosion of issues.

Since 2012, the fall of horse betting has lost nearly 2 billion euros of stakes since 2012 to Pari Mutuel Urbain (PMU), which enjoys the status of Economic Interest Grouping (GIE) and consists of a sixty racing companies including France Galop and Le Trot.

On Tuesday, he announced that in the third quarter, the stakes on horse betting in France – its core business – were up 0.5% to 1.8 billion euros, a change identical to that seen in the second quarter. quarter. This is ” a first since 2011, excluding product launch ,” PMU said in its press release.

But if we integrate international horse betting, sports betting and poker, PMU activity as a whole is down 1.8% in the third quarter, to 2.25 billion euros. euros.

We have made the choice to refocus the PMU very strongly on its core business and no longer go offshore on diversification activities ,” says AFP Mr. Linette, at the helm for 18 months. Last January, the PMU launched a recovery plan, with a new formula Quinté +, its flagship product, and a drastic reduction of its offer.

Even if we will not end the year in growth, nevertheless for six months we are on a real growth, which is a great satisfaction. We should do better than the budget we agreed on with the racing companies at the beginning of the year. We had gone on a budget of 747 million euros and we will end up above this objective, with even I think a few million additional net profit, says Linette.