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PMU posted full year 2013 and Q1 2014 results

Tuesday April 15,2014 : PMU REPORTS Q1 2014 DIP IN SALES BUT MEETS EXPECTATIONS
 
Aggressive marketing and product diversification strengthens performance in difficult market
 
French operator Pari Mutuel Urbain posted full year 2013 and Q1 2014 results that it said, despite unfavourable economic conditions, were in line with expectations.
 
Key performance highlights for the Full Year 2013 period include:
 
-   Net income of Euro 854 million which was in line with objectives announced earlier in the year.
 
-   Year on year growth of 0.6 percent in gross gaming revenue which amounted to Euro 2.542 billion, despite a decline in stakes of 0.9 percent to Euro 10.405 billion.
 
PMU attributed its performance to an aggressive marketing strategy both locally and abroad and its diversification into sports betting and poker.
 
The company’s 5-year growth plan initiated late 2012 focuses on enabling growth drivers such as international development in horserace betting and new gambling activities.
 
An increased focus on digital innovation included the launch of the MyPMU app and touch screen information dedicated website in the offline business as well as the launch of apps and a redeveloped website in the online business.
 
Key performance highlights for the 1st Quarter 2014 period include:
 
-   Total sales amounted to Euro 2.59 Billion (Q1/2013: 3.6 Billion), down 3.4 percent
 
-   Total gross margin in sales totaled Euro 637.3 million, down 1.3 percent
 
-   Horseracing sales were down 4.5 percent to Euro 2.377 billion.  Local sales fell 7.4 percent to Euro 2.2. Billion but International business showed a growth of 45 percent to Euro 192 million with the German, South African and U.S. markets emphasised.
 
-   Sports betting was up 17 percent amounting to Euro 57.6 million driven by betting on Ligue 1 and the strong growth of mobile betting (increased by 88 percent).
 
-   Poker stakes amounted to Euro 151.8 million, up 9.2 percent, ahead of the market which declined 10 percent year-on-year.
 
“Despite the contraction in the gross margin, net income for the first quarter is in line with expectations and is slightly higher than the first quarter of 2013," a PMU statement said.  “This therefore enables the PMU to ensure horseracing is provided with the financial resources necessary to enable its ongoing development.”

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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