The internet is playing an increasingly
Pari-Mutuel Urbain's quarterly numbers this week
indicated a strong performance from the company, and are
being widely seen as an indication that business is
picking up in the nation.
Philippe Germond, PMU
chairman and managing director, said he was "very happy"
for shareholders like France Galop, noting:
"These results are very satisfactory. The shareholders
were very worried about the opening up of the online
market and now the PMU is number one for online betting
on racing. France and Sweden were the only two countries
which had an increase in betting turnover last year.
"When it comes to sports betting, we have 15 percent
of the online market and our association with Paddy
Power could not have gone better," he added.
"Turnover on poker has been a surprise and together with
PartyGaming we have taken a bigger share of this market
"The PMU now has its own poker team.
Neither sports betting or poker has had a negative
effect on the horse racing side."
While most PMU
betting is carried out at 11,000 outlets throughout
France, there are now approximately 500,000 online
clients, and the outlook for the company's online
operations appears rosy; forecasts suggest Euro 1.2
billion of the 2011 total will come from internet
During Q1/2011 internet clients
wagered Euro 317.6 million.
earlier this week (see previous InfoPowa report) showed
total PMU turnover up by 8.3 percent at Euro 2.58
billion for the first three months of this year with the
12-month figure on course set to hit a record Euro 10
The French horse racing industry will
also be pleased with the company's success - the PMU
contributes around 8 percent of its turnover to the
racing industry in France, funding better prize money
and making the sport more attractive to punters.
PMU's 2010 performance showed a 2.6 percent increase in
turnover to Euro 9.54 billion. The French government's
portion for 2010 worked out at Euro 1.024 billion, when
PMU expenses came in at Euro 568 million, part of which
was spent on award-winning publicity.