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PMU posted its full year 2014 results

Tuesday january 13,2015 : PMU REVEALS CHALLENGING YEAR

But says performance still in line with expectations

French gambling operator Pari Mutuel Urbain (PMU) posted its full year 2014 results delivering a performance that it said is in line with forecasts despite a decline of 2.2 percent in gross gaming revenue to Euro 2.48 billion and a 4.1 percent decline in gross profit to Euro 9.98 billion.

The company identified its key highlights during 2014 as the  development of International horse race betting that delivered growth of 14 percent in stakes to Euro 727.5 million and a strong sports betting performance during the World Cup saying PMU had taken 27 percent market share and attracted 80 000 new customers.

PMU’s core pari mutuel horse race betting business felt the bite of a tough economic climate with stakes falling 5 percent to Euro 9.16 billion and gross profits down by 2.6 percent to Euro 2.4 billion.

Retail sales also fell by 5.8 percent to Euro 7.515 billion.

PMU’s total online stakes reflected a 2.9 percent decline to Euro 1.6 billion, however, online sports betting stakes rose 14.9 percent to Euro 228.7 million.

Online poker showed a good performance in a declining market with a rise in stakes of 3.8 percent to Euro 591.6 million, however gross profits totalling Euro 21.3 million were down 1.4 percent.

Online horse race betting stakes decreased 10.6 percent to Euro 843 million, a reflection of the performance reported from its land-based vertical.

Mobile betting saw a 33 percent increase in horse race betting stakes, 45 percent in sports betting stakes and an impressive 235 percent rise in poker stakes.

"The PMU contained a decline in its 2014 gross gaming revenue while pursuing its development strategy in France and abroad combined with a cost-cutting plan”, commented chief executive officer of PMU, Xavier Hurstel.

“This approach will allow a net income for the benefit of the horse racing industry in line with the commitments made ​​in 2013.

“The PMU is a solid company and it is this strength that allows it to withstand today and maintain this level of performance.”

Looking ahead, PMU’s focus in 2015 will be on the continued transformation and modernisation of its network. 

A complete redesign of its central computer system is ongoing which it says will ultimately allow for increased business innovation and customer satisfaction.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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