Flutter and PMU have inked a deal for a multi-channel business-to-business sports wagering platform. This marks the initial external agreement between Flutter Entertainment and the French Pari Mutuel Urbain (PMU).
Flutter and PMU have signed their first external business-to-business sports betting platform agreement.
Under the terms of the accord, PMU will be the first external brand to utilize the business-to-business sports betting platform outside of the Flutter Group. This continues the collaboration between the two entities that commenced in 2010.
Through the Flutter platform, PMU will gain access to customer offerings and associated operational services. Additionally, it will continue to provide event management, fixed odds pricing, and risk management services.
Flutter stated that PMU will also reap the benefits of ongoing investment in the platform. It added that this will facilitate a smooth sports betting product launch.
“In the realm of sports wagering, we aim to streamline our architecture with a turnkey solution and concentrate on marketing and customer relationship management,” said Emmanuel Vacher, Director of E-commerce at PMU. “Flutter’s product fulfills this requirement. We now have a long-standing association with them.
“Our shared objective is to possess a leading sports betting product, service, and user experience on PMU.fr, such as horse racing, and capture market share, leveraging the expertise and technical capabilities of Flutter.”
Tom Bowry, the Chief Strategy Officer of Flutter, stated: “We are thrilled that PMU has decided to expand our collaboration and be the first external entity to utilize our B2B sports betting platform.
“This sports betting solution was created through a persistent pursuit of innovation. We are enthusiastic about our B2B sports betting capabilities and the prospects that lie ahead for us as we continue to invest to fulfill the changing needs and anticipations of our clients.”
Flutter Receives Another Boost
This agreement is another positive development for Flutter in 2023. Last month, Flutter declared that its income increased by 25% to £95.1 billion (€111.8 billion/$120.5 billion) in the twelve months concluding December 31.
Flutter’s robust performance in 2023 was driven by its US-facing FanDuel, which witnessed income growth of 38% year-on-year to £30.6 billion.
However, there was also expansion in other regions, with income in the UK and Ireland rising by 15% to £24.6 billion. Flutter’s international division, which encompasses markets outside the US, UK and Ireland, as well as Australia, observed income growth of 36% to £22.9 billion.
Meanwhile, Flutter also finalized the acquisition of a controlling interest in Serbian sports betting and gaming operator MaxBet last month.
Under the accord reached in September 2023, Flutter consented to pay €141 million for a 51% stake in the MaxBet business.
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