Wednesday October 28,2015 : PMU DELIVERS LACKLUSTRE Q3 RESULTS

 But says current business has picked up enabling it to remain on course to meet annual forecast.

French gaming firm Pari Mutuel Urbain (PMU) third quarter results have been hailed as better than expected even though a decline in gross gaming revenue and stakes were reported across most verticals.

Key performance highlights for the first nine months of its fiscal year include:

–    Total wagers of Euro 7. 2 billion, down 2.2 percent.

–    Total gross gaming revenue amounting to Euro 1.8 billion was 2.5 percent down on last year.

–    Total horserace betting declined 2.2 percent to Euro 6.65 Billion, as did gross gaming revenue of Euro 1.7 billion by 2.2 percent.

–    Sportsbetting stakes amounting to Euro 171.3 million were down 1.1 percent, while gross gaming revenue totalled Euro 30.7 million, down 15.9 percent.  Gross gaming revenue was affected by favourable sports results for bettors.

–    Poker stakes continued their decline to Euro 420 million, down by 2.4 percent.  Gross gaming revenue amounted to Euro 10.7 million, down 3.8 percent.

PMU said its French business had experienced a marked upturn during the current trading period, both in terms of retail and online, enabling the company to maintain its forecast for a net profit of Euro 805 million in 2015.