Pari Mutuel figures for 2009 'satisfactory'
France: The Pari Mutuel Urbain (PMU, or off-course tote) has announced a "satisfactory" set of results for 2009 - its final set of figures before the organisation's monopoly on internet betting is ended this year.
Betting turnover last year topped €9.3 billion, up 0.4% compared to 2008, but the €731 million that went back into racing was down by €6m as PMU expenses showed a slight increase at €507m - a figure that includes the financing of the highly successful racing channel Equidia.
Thanks to the PMU, Europe's largest betting organisation, the French government enriched its coffers by a shade over €1.1bn.
Philippe Germond, chairman and managing director for almost exactly a year, revealed the numbers ata press conference in Paris on Tuesday.
"When you take into account the economic situation and the amount wagered with illegal operators, the PMU results were satisfactory in 2009," said Germond.
"When I took over as the President of the PMU last April, I had never been racing and never had a bet. Now I go into cafes to enjoy the atmosphere but still don't bet!"
He is not permitted to do so. "Now I feel that horse racingis a sacred sport," added Germond.
A total of 74.8% of turnover was returned to punters by way of dividend. The takeout from straight bets, win and place, was just 15%, a growing sector that ccounted for €2.9bn of the total.
However, internet betting is growing even faster. Online punters gambled €661m, which represented an increase of 22% in just one year ahead of the bigger boom expected once the market is open to other licensed operators in early June.
The majority of bets in France are still placed in 10,400 (10,800 by the end of 2010) outlets scattered throughout the country.
The figures showed about 300,000 active clients on the internet site pmu.fr, while iPhone turnover increased by 216% in the first quarter of this year.
Early next month, the PMU will be launching a plastic card for its clients which will enable them to gamble is any way they want (café, internet,mobile etc) with funds transferred automatically into accounts, bringing French gambling into the 21st century.
The PMU believes itself well armed to take on allcomers once the licensing commission ARJEL authorises new operators.
The PMU will continue with its traditional mutuel business on horseracing - fixed odds is still barred - but expand into fixed-odds sports betting market and online poker, where it is hoping to capture between 20 and25% of online business.
Germond has been gathering partners for the opening of the market just before the World Cup in South Africa in June.
Paddy Power will be supplying expertise on fixed odds and PartyGaming hasbeen signed up to help with poker.
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