French horse betting company Pari Mutuel Urbain (PMU) has reported consecutive growth quarters for its racing vertical. Chief Executive Cyril Linette revealed that French racing wagers during Q2 and Q3 trading had consecutively grown by 0.5% to €1.9 billion.
Despite a tough opening to 2019 racing (−3.4%), with the PMU reducing its race schedule and revamping its “Quinte+ prognostic” product, PMU governance estimates that French racing will be delivered at −1% wagering for 2019 trading.
“This is proof that the strategy put in place is bearing fruit despite a reduction in supply (−20% of races), even if we do not end the year in growth, for six months we have shown real growth, which is of great satisfaction” Linette said.
Under Linette’s guidance, at the start of 2019, the PMU launched its “revitalisation programme” approved by the operator’s core shareholders of France Gallop and Le Trot Francais.
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This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PMU Reports French Racing Growth in Q3 2019