International expansion drives PMU’s modest 2016 growth
Double-digit growth in international horseracing stakes helps drive a 1.3% increase in group revenues
French operator PMU recorded a modest 1.3% year-on-year rise in 2016 revenues, driven by strong growth in the firm’s international horseracing betting arm.
Gross gaming revenue (GGR) last year increased to €2.4bn for the 12 months ended 31 December, while total revenue from horseracing was up 1.2% year-on-year.
The growth in horseracing GGR followed a 29% year-on-year rise in international stakes, which helped offset a 4% fall in the Paris-based operator’s home market.
“PMU now counts 67 partner operators on five continents, in a total of 48 countries, either in export (bets on French races) or import (foreign races offered to French bettors),” PMU said in a statement.
“Among the countries with the best growth in 2016 were Norway, Sweden and the Netherlands.”
Meanwhile, poker was the company’s fastest-growing vertical on a GGR basis in 2016 after growing 4.9% year-on-year to €15m. However poker only accounts for a small proportion of group revenues.
“On the marketing front, the guaranteed amounts were raised to attract more players, including the launch of the Sit’n Go Jackpots and FPC tournaments offering up to €1m overall,” the firm said.
“Poker has also benefited from technological innovations with the introduction of multi-tabling on iOS and Android applications and the launch of PMU Poker’s Twitch channel.”
Sports betting revenues were also up 1.9% year-on-year to €44m, driven by a 19.7% increase in stakes.
PMU did not provide any figures for its online division.