Apparently little affected by the liberalisation of the French market or the difficult economic environment, the former French horseracing monopoly Pari Mutuel Urbain (PMU) has posted positive Q1/2011 results.
The company reported this week that amounts staked on French horseracing grew by 3.8% to €2.47 billion, with net profit rising 8.3% quarter-on-quarter to €791 million.
The company's e-gambling division delivered revenues up an impressive 57% to €318 million through 10 million unique visitors very month.
The company remains bullish going forward, predicting that as much as €10 billion in revenues will be achieved this year, with over ten percent of that contributed by online betting activities.
Source: InfoPowa News