Flutter Entertainment has confirmed an extension of its B2B partnership with French gambling operator Pari Mutuel Urbain (PMU), signing fresh terms on an agreement that has been in place since 2010.
PMU is primarily a betting operator focused on horseracing, but it also has casino and sportsbook offerings with the latter set to be boosted as the French entity will become the first external brand to utilize Flutter’s extensive sportsbook platform.
Flutter Entertainment is the parent company behind established betting brands including Paddy Power, Betfair, Sky Bet, Poker Stars, and Fan Duel. It is a major player within the betting industry in the United Kingdom and Ireland, with its strength reflected in its listing on the London Stock Exchange.
Strong market presence and revenue returns
Flutter Chief Strategy Officer Tom Bowry stated: “We are delighted that PMU have chosen to extend our partnership and become the first external brand to adopt our B2B Sportsbook platform. This Sportsbook solution has been developed through a relentless focus on innovation and is powered by the exceptional expertise derived from our global portfolio of brands.”
Emmanuel Vacher, e-commerce director of PMU said their company “is the undisputed leader in the online horse racing betting market” and “in sports betting, we were looking to simplify our architecture through a turnkey solution and to concentrate our efforts on Marketing and CRM. Flutter’s offering meets this need. Alongside them, we are now engaged in a multi-year partnership.”
This endorsement of Flutter’s services comes after it completed an acquisition in another European market, last month. In a deal first agreed in September 2023 with a payment of €141m for a 51% stake, Serbian sports and gaming operator MaxBet has been added to its growing stable of brands.
Flutter continues to push on from a position of strength after it posted significant gains in 2023 thanks to a 25% increase in group revenue up to £9.51 billion ($12.05bn) for the 12 months up to 31 December.
Its US brand FanDuel recorded a 38% year-on-year spike in revenue up to £3.06bn whilst its UK and Ireland division delivered £2.46bn of revenue, posting an increase of 15%.
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