PMU in cooperation with Armenian horse racing

French gambling firm Pari Mutuel Urbain (PMU) has entered into a co operation agreement with the National Equestrian Federation of Armenia (FEA) to develop horse racing in the Country.

PMU’s affiliate Pari Mutuel Armenia (PMA) has committed to developing a horse racing betting system in Armenia of which three percent of the overall proceeds will be earmarked for race organisation and ten percent will be allocated to FEA.

The co operation memorandum will become a formal contract by no later than January 2013, Hayrapet Hayrapetyan, president of The National Equestrian Federation of Armenia told NEWS.am Sport.

“This is the first phase for the development of the sport [in Armenia]. As a result, we will have horses, financial investments [to], and development of equestrian sports [in the country],” Hayrapetyan added.

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