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Mixed Results For PMU for H1-2016

PMU REPORT MIXED H1/2016 RESULTS

International horse betting offsets weaker local markets.

French operator Pari Mutuel Urbain (PMU) delivered a mixed bag of results in its first half 2016, reporting a volatile environment affected by, amongst others, a decline in equestrian activities in France.

Group gross gaming revenue was up 1.1 percent to Euro 1.2 billion despite a slight decline in total stakes of 0.3 percent to Euro 4.9 billion.

Horse betting stakes amounted to Euro 4.475 billion, down 1.1 percent, but ahead of the overall French market PMU claims which was down 4.4 percent to Euro 3.968 billion during this reporting period.

A decrease in horse stakes, which particularly affected Retail, was attributed to social movements, a post-terrorist climate, the weather, the Euro 2016 Football competition and the companies separation of online and retail reportage.

“International activity confirms its key role as growth drivers of horse betting,” PMU said. International stakes rose sharply to Euro 506.5 million (up 35.2 percent), partly offsetting the decline in the French market.   Total horse betting gross revenues were up 0.8 percent to Euro 1.2 billion.

On a positive note, international business has continued to show strong growth following a successful Euro 2016 Football championship where stakes exceeded Euro 500 million, the company reported.  Sports betting stakes delivered 30.7 percent growth to Euro 154.4 million, and gross gaming revenues amounted to Euro 24.2 million, a 16.1 percent increase.

Poker stakes declined 0.6 percent to Euro 282.2 million, while gross gaming revenues increased 8 percent to Euro 7.7 million.

Looking ahead, PMU said stricter fiscal controls will be implemented in the upcoming period to achieve a net profit in line with its 2016 commitments along with new innovations and a focus on international business.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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