PMU Revenues Decline in 2015

|
Photo courtesy Racing Post

France’s Pari Mutuel Urbain experienced a 1.8% decline in annual turnover in 2015, marking the third straight year the company has experienced a drop in turnover, according to Racing Post. The company posted €9.79 billion in bets and gaming last year, but its president, Xavier Hurstel, told Racing Post the results for the final half of the year were on the upswing.

“Despite a very unsettled [economic] situation, the brakes have been put on the slowdown in activity, thanks to the efforts of the business to put in place a number of key stategic projects as part of the PMU 2020 Plan,” said Hurstel. “After a very difficult start to the year, activity has improved in line with a number of operational changes to the back office, as well as new products and further developments in customer service.”

“In the end, we have met our forecasts for total turnover and gross revenue,” he continued. “That, in conjunction with strict monitoring of our overheads, has allowed us to meet our target for contributions to racing’s finances.”

Not a subscriber? Click here to sign up for the daily PDF or alerts.