Strong growth in online in PMU third quarter results

French gambling provider Pari Mutuel Urbain (PMU) delivered its third quarter results this week showcasing strong growth in its online operations and a good online poker performance despite tough market conditions.

Key Quarter 3 Performance Indicators include:

– Total Group Stakes Euro 2.4 billion, up 1 percent
– Total stakes horse racing Euro 2.32 billion, down 1.1 percent
– of which retail Euro 1.98 billion, down 3.6 percent
– Total stakes sports betting Euro 39.4 million, an increase of 63.1 percent
– Total stakes poker Euro 125.7 million, up 39.8 percent
– Overall gross gaming Euro 598 million, a decline of 1.2 percent
– Gross revenue horse race betting Euro 586.3 million, down 1.8 percent

YTD Performance Indicators as at 30 September 2012:

– Total Stakes Euro 7.78 Billion, up 2.9 percent
– Total stakes horse racing Euro 7.28 billion, up 0.8 percent
– of which retail Euro 6.27 billion, down 1.4 percent
– Total stakes sports betting Euro 120 million, up 71.7 percent
– Total stakes poker Euro 378 million, increase of 44.8 percent
– Overall gross gaming Euro 1.87 billion, up 1.6 percent
– Gross revenue horse race betting Euro 1.83 billion, up 0.9 percent

PMU said its third quarter results were aided by a strong interest in major sports events the Tour de France and the Olympics, however, on the back of a depressed economic market, the company said horse race betting in general had deteriorated but it had seen an upturn during September 2012 attributed to the launch of new betting products.

The company entered into three new distribution agreements for horse race betting in Belgium with the Belgian PMU, WFA and Eurotiercé. These deals complement an earlier agreement with Ladbrokes . PMU also reported strong growth in the German market of 114 percent.

Sportsbetting, poker and online were the company’s star performers over the quarter with a 63.1 percent growth in sports betting, 39.8 percent growth in online poker and a 19.3 percent increase in online.

PMU’s sportsbetting results place it firmly second in the market after Betclic.