PMU cites struggling local economies as financial growth slows

French operator Pari Mutuel Urbain (PMU) said an ongoing downturn in local economies had a negative impact on its performance in the first nine months of the year, despite recording growth.

Total gross gaming revenue in the period amounted to €1.8 billion ($2 billion), up 0.7% on the corresponding period last year, mainly due to a 47% year-on-year increase in international growth.

PMU’s sports betting business performance well in the period, with revenue up 12% to €34.4 million and stakes increasing by 25% to €213.3 million, but other areas suffered.

Poker stakes were down 3%, although revenue was up by 6%, while stakes on local horse race betting dropped 5% year-on-year, with total stakes down 2% to €6.5 billion.

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