Industry News

PMU Reports French Racing Growth in Q3 2019

Published

5 years ago

October 18, 2019

Niji Narayan

Onionsack and PMU cement partnership with three-year extension

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French horse betting company Pari Mutuel Urbain (PMU) has reported consecutive growth quarters for its racing vertical. Chief Executive Cyril Linette revealed that French racing wagers during Q2 and Q3 trading had consecutively grown by 0.5% to €1.9 billion.

Despite a tough opening to 2019 racing (−3.4%), with the PMU reducing its race schedule and revamping its “Quinte+ prognostic” product, PMU governance estimates that French racing will be delivered at −1% wagering for 2019 trading.

“This is proof that the strategy put in place is bearing fruit despite a reduction in supply (−20% of races), even if we do not end the year in growth, for six months we have shown real growth, which is of great satisfaction” Linette said.

Under Linette’s guidance, at the start of 2019, the PMU launched its “revitalisation programme” approved by the operator’s core shareholders of France Gallop and Le Trot Francais.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.