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3.8% growth reported in Q1/2011 for PMU

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