German Tote (PMU Group) accelerates
13 March 2018
In 2017, the German betting operator German Tote, in which PMU is the majority shareholder, returns to growth and generates a net profit of €1.2m.
The strategy deployed by German Tote in 2017 has paid off. In the horse-racing market the dual challenge of adapting French betting formulas and tickets to the German market while testing out new tools for horse-specific information has brought a new dynamic to the business. As such, stakes placed reached €277m - versus €252m in 2016 - and were focused mainly on French races.
"We were able to turn this company around, going from losing €3.5m in 2015, when we acquired 51% of its capital, to generating €1.2m in profit in 2017,” says Alain Resplandy-Bernard, Chairman of the Board for German Tote. This performance was made possible by the complementarity and effective collaboration of the German Tote and PMU teams."
In addition, the launch of a sports betting offer supported by an effective, targeted and relevant promotional campaign, as well as the marketing of German races abroad, have all helped to maintain the trend. These very positive results have enabled German Tote to provide a substantial contribution of €1.95 million to German racetracks. This support will help to maintain the momentum initiated throughout the German horse-racing industry.
As part of its international development strategy, PMU has a 51% stake in the German operator. Thus, German Tote has been able to benefit from the power and expertise of the leading European horse betting operator to boost its activity. And it has allowed PMU to strengthen its international presence. Today PMU has subsidiaries in Germany, Belgium and Brazil while expanding its business into more than 50 countries around the world, all thanks to strong partnerships with more than seventy operators. This deployment policy proves its effectiveness year on year. In 2017, stakes collected abroad rose by 10%, reaching €1.14 billion, or 12% of PMU's turnover.
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