The article on the blog of journalist Anselmo Gois last week said that "the largest betting platform in horse racing in the world, with 190 points of sale in all states -90 in Rio alone - Pari Mutuel Urbain (PMU) will close its operations in Brazil at the end of June. The decision surprised those who love the sport and the Brazilian Jockey Club itself, with whom the French company had contract since 2015."
However, according to Games Magazine Brasil, the company pointed out that, although this information is true, the rest of the note was received with surprise by PMU Brasil.
"The talks with the JCB presidency on the serious situation of the partnership began in July 2018 and the official announcement of the exit decision was made last April 12th. In addition, the three-year partnership, in which, in addition to make investments, PMU Brasil assumed a series of fixed costs, generated about R$ 24 million (US$ 5.85m) of savings to JCB. The objective would be the conversion of these resources in the fomentation of the activity, as for example in the increase of prizes and improvements in the hippodrome.”
Pari Mutuel Urbain (PMU), after three years of partnership with the Brazilian Jockey Club, communicated to the turf and market community the next steps of its operations in Brazil. By the end of 2019, PMU will close the operation of the Brazilian subsidiary and focus its strategy for the betting operation and no longer for the entire structure currently maintained.
In the next 30 days, a new contract model and a transfer plan will be defined between PMU and JCB. During this period, PMU will maintain all the activities and investments currently foreseen in the partnership, which will include the preparation and promotion of the largest national calendar event, the Brazil Turf Grand Prix, next June 7 to 11.
Source: GMB
