Flutter and PMU have inked the initial external B2B sports wagering platform accord, signifying an expansion of the long-standing collaboration between the two entities.
Flutter Entertainment has reached a deal with French Pari Mutuel Urbain (PMU) to furnish it with a multi-channel B2B sports betting platform. This agreement designates PMU as the inaugural external brand outside of the Flutter Group to utilize the B2B sports betting platform.
PMU will gain access to consumer products and associated operational services through the Flutter platform, while concurrently continuing 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, which will facilitate a smooth rollout of sports betting products.
“In the realm of sports betting, we aspire to streamline our architecture with a turnkey solution and concentrate our endeavors on marketing and customer relationship management,” remarked Emmanuel Vacher, Director of E-commerce at PMU. “Flutter’s offering satisfies this requirement. Collectively, we are now embarking on a multi-year partnership.
“Our shared objective is to possess a leading sports betting product, service, and user experience within PMU.fr, encompassing horse racing, and attain market share, leveraging Flutter’s expertise and technological capabilities.”
Tom Bowry, the top strategy executive at Flutter, stated: “We are thrilled that PMU has chosen to extend our collaboration and become the first external entity to utilize our business-to-business sports wagering platform.
“This sports betting solution was created through a relentless pursuit of innovation. We are enthusiastic about our business-to-business sports betting capabilities and the prospects available in the future, and we will continue to allocate resources to meet the changing needs and expectations of our clientele.”
Flutter Continues to Thrive
This agreement is another positive development for Flutter in 2023. Last month, Flutter announced that its income for the 12 months ending December 31, 2023, increased by 25% to £95.1 billion (€111.8 billion/$120.5 billion).
Flutter’s most notable figure in 2023 was FanDuel, which is focused on the American market. FanDuel’s income increased by 38% year-on-year to £30.6 billion.
However, growth was also observed in other regions. Income in the United Kingdom and Ireland grew by 15% to £24.6 billion. Flutter’s international division, which encompasses markets outside the United States, United Kingdom, and Ireland, including Australia, saw income increase by 36% to £22.9 billion.
Meanwhile, Flutter also finalized the acquisition of a majority stake in Serbian sports betting and gaming operator MaxBet last month.
Under an agreement reached in September 2023, Flutter agreed to pay €141 million for a 51% stake in the MaxBet business.
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