France – PMU records first revenue growth since 2011
French sports betting operator Pari Mutuel Urbain (PMU) has generated growth in revenue for the first time since 2011.
A ten per cent increase in its international division helped boost operating revenue by two per cent to €9.92bn in 2017. The company’s domestic racing revenues grew by 0.9 per cent year-on-year.
Alain Resplandy-Bernard, interim chief of PMU, said: “The implementation of PMU’s strategic plan is beginning to bear results and in 2017 the PMU returned to the path of growth. We have achieved the first goals set out in our 2020 plan as we have returned to growth in 2017. We are ahead of our international roadmap and France is recovering growth after five years of decline. Our project remains very ambitious. Our objective in 2018 is to continue growth across all sectors of the business and to permanently cross back over the threshold of €800m in net profit. I know the teams across the PMU are ready to meet this challenge and to ensure sustainable growth for the business to the benefit of horseracing’s finances.”
During the year, PMU revitalised equestrian activity, with the introduction of new games aiming to attract novice bettors.
The Simple Jackpot, launched in April, generated a level of betting much higher than anticipated. The Super 4, a new bet for regular customers, launched in late November, is experiencing an encouraging start. SMS bets totaled €93m.
Internationally, PMU is looking for new partnerships in Africa and China.
