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French Based PMU Boasts Record Profits

Pari Mutuel Urbain, a France based gambling operator has announced its 2011 full year results, boasting €10 billion in turnover (up 7.3% from the previous year).

PMU, a former French monopoly, has posted turnover increases for 14 consecutive years. The company's online operation posted a 45% increase year over year to €1.346 billion. PMU's online site features sports betting, poker, and horse racing. PMU currently holds 20% of the French online sports betting market.

Company President and CEO Phillippe Germond said the company plans on on expanding its market share on internet poker and sports betting in 2012.