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Strong Results For Pari-Mutuel Urbain
Wednesday July 13, 2011 : Online gaming proving to be profitable
The former French gambling monopoly Pari-Mutuel Urbain (PMU) reported strong first half 2011 results this week, attributed to historical growth and successful diversification.
Key performance highlights for the first six months of 2011 compared to the same period in 2010 include:
- Overall growth in revenue of Euro 5.1 billion, up 8.1 percent
- Overall growth of 3.9 percent in gross betting revenues to Euro 1.24 billion.
- Horseracing operations reflected an increase of 3.4 percent to Euro 4.9 billion with an increase in gross horserace betting proceeds of 2.7 percent to Euro 1.19 billion.
- A growth of 2.6 percent in stakes from its network of retail outlets to Euro 4.30 billion.
PMU attributes its strong results to the optimisation of race schedules, an increase in network points to 11000 and investment in its marketing campaigns and internet offerings, said a company spokesperson.
While strengthening its position in horse betting, PMU has developed new activities and initiatives in internet sports betting and poker. The company is now in the top three French sports betting sites with approximately 18 percent market share compared to 10 percent in 2010, and continues to expand its online poker market share currently standing at approximately 5 percent of the French market
This diversification in activities is responsible for 16 percent of the company's gross online gaming revenue and represents 63 percent of its growth.
The company reports impressive results from its one-year old online gaming division with the past six months delivering:
- Its internet stake yielded Euro 639.6 million, reflecting an increase of 64 percent.
- Online activity was strongly driven by mobile offerings, with growth of 180 percent.
The PMU has renewed its 10-year partnership with Switzerland and entered into another with Belgium with the promise of further partnerships by the end of 2011.
The company expects its successful first half will be followed by good second half results, with overall revenues for 2011 topping Euros10 billion, of which more than ten percent will come from internet operations.
Continued strict control of margins and expenses, especially with lower fixed costs should lead to significant growth in net income and an increase in funds donated to the French horse industry.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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