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Pari Mutuel Urbain Earnings Forcast
Monday July 13,2015 : PMU MAINTAINS FULL YEAR FORECAST DESPITE H1 DECLINE
Expects stronger HY2 2015 trading period.
French gambling operator Pari Mutuel Urbain (PMU) believes it will still achieve its 2015 net profit target of Euro 805 million despite a decline in HY1/2015 activity.
The company said it will continue with the operational implementation of projects according to its PMU 2020 strategy and expects a stronger period of trading for the rest of its financial year.
Key performance indicators for the first half of the year 2015 include:
A decline in total gross gaming revenues of 2.8 percent to Euro 1.2 Billion and a 2.5 percent decline in total stakes amounting to Euro 4.9 billion.
Gross gaming revenues in Horserace betting fell 2.6 percent across retail and online to Euro 1.18 billion.
Betting stakes fell 2.7 percent to Euro 4.5 billion.
Profit after tax on the export of French racing was up 20.4 percent to Euro 29.5 million, showing encouraging progress with new international developments expected during the second half of the year.
Sports betting results were impacted by the comparison period in which the World Cup 2014 fell, PMU said, resulting in a drop in sports betting stakes of 3.1 percent Euro 118 million and gross gaming revenue of Euro 20.8 million, down 14 percent.
Poker remained stable, despite a general decline in the poker market, delivering a 0.8 percent increase in stakes to Euro 284 million and a -3.5 percent decline in gross gaming revenue to Euro 7.2 million.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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