1. business and industrial
2. agriculture and forestry
3. farms and ranches

RAPPORT D'ACTIVITÉ 2014
2014
IN BRIEF
ALL ABOUT PMU,
RIGHT HERE, RIGHT NOW.
CONTENTS
2 Interview
5 PMU 2020
9 From turf to table
14 Equidia
16 Where we are
18 International toolkit upgrade
20 Why is French racing on the rise?
21 History of PMU
22 2014 in figures
26 The Management team
28 Governance
30 Racing without borders
32 Eurotiercé, a first-mover advantage for PMU
33 Highlights
36 Responsible gaming
38 Corporate Social Responsibility
39 Carte blanche
Activity report
2
INTERVIEW
XAVIER HÜRSTEL, THE NEW CHAIRMAN AND CEO,
AND AYMERIC VERLET, INTERNATIONAL DIRECTOR,
DISCUSS 2014, 2015 AND 2020.
HOW WOULD YOU DESCRIBE
THE PAST YEAR?
XAVIER HÜRSTEL. In 2014, PMU once
again proved to be a solid business. Despite
the unfavourable economic environment,
it has remained the third largest operator
worldwide, with total stakes of nearly
€10 billion and a net profit of €850 million.
The company’s underlying strength has
enabled it to withstand the harsh economic
climate, to achieve its objectives, and to
continue to support the horseracing sector –
and beyond its commitments.
WHAT HAS BEEN THE IMPACT OF
THE UNFAVOURABLE ECONOMY ON THE
ACTIVITIES OF PMU?
X.H. There has been a particularly
detrimental effect on general houselhold
spendings. Horserace betting is a leisure
activity, which explains that our customers
have limited their yearly spendings. In
this context, our horseracing activity has
declined by 5% in France, but this has been
offset by our strategy of diversification and
internationalization.
Globally, thanks to a policy of strict costs
control, our savings have financed our
increases in investment, and PMU has been
able to return to the horseracing sector a
result above the level to which it originally
committed.
IN 2013, WITH THE ACQUISITION
OF THE BELGIAN OPERATOR
EUROTIERCÉ, PMU INITIATED
A NEW STRATEGY OF INTERNATIONAL
DEVELOPMENT. WHAT ARE THE KEY
OBJECTIVES?
AYMERIC VERLET. We have historically
grown our International business through
strategic local partnerships. We are
fortunate to count many solid, long-running
partnerships. PMU has 79 of these partners
in 44 countries. We import a huge number of
foreign races for French punters. This allows
us to offer a complete product line, while
establishing reciprocal partnerships with a
certain number of our B2B partners.
However, the acquisition of Eurotiercé has
introduced us to a another business model.
What started as a simple business-toconsumer test case quickly became a profitable
PMU 2014
3
venture. We believe B2C will be a significant growth
driver, and we are excited about several projects
that are in the pipelines for 2015 and would translate
into setting up new foreign subsidiaries.
WHICH INTERNATIONAL MARKETS
ARE THE MOST APPEALING?
A.V. Given the current economic climate in Europe
which is not so dynamic, overseas markets seem
more important to us than ever. Some countries
and continents are growing at rates that we could
only dream of in Europe! Obviously these markets
appeal to us. It is not only a matter of attractivity
but also of feasibility.
First we need to determine whether it is legally
possible to operate directly or in partnership there,
and we must take into consideration the local
betting laws. We tend to seek partners in markets
where horseracing is already an established
practise.
This approach can facilitate a new partnership,
although there is no guarantee. At the same time,
markets that have little or no horseracing culture
can also be interesting, even if these partnerships
take a bit longer to establish. Fortunately we have
the expertise and a wide range of products that
can be tailored to each market.
WHAT CAN WE EXPECT FROM PMU
IN 2015?
X.H. I am very confident. 2015 will be a key year,
during which we will step up our investment in
domestic and International development and the
renewal of our client offer.
Accordingly, our sales outlets will receive
special attention, because they are absolutely
central to our identity. 2015 will also mark the
implementation of a large number of key projects,
carried by the established operational excellence
and knowhow of our teams.
3rd
OPERATOR WORLDWIDE
€850
Million
NET PROFIT IN 2014
“WE ARE
FORTUNATE
TO COUNT
MANY SOLID,
LONG-RUNNING
PARTNERSHIPS.”
4
•
10 THINGS
YOU NEED TO
KNOW ABOUT
XAVIER
HÜRSTEL
•
1
4
8
A former amateur
jockey, he has raced at
Chantilly, Saint-Cloud,
and Mont‑de-Marsan
racetracks.
He has worked as an
advisor to the French Prime
Minister and participated on
the launch of France’s first
public service hotline, 3939,
and the developement
of service-public.fr and
online tax returns.
During his military service
in the navy, he checked
containers in the Strait
of Hormuz and the Red
Sea, and rode a horse
in the desert.
2
He joined PMU in 2008
where he served as
Deputy Managing Director
until 2014, spearheading
diversification when the
gaming market opened.
3
Has graduated from the
prestigious ENA School
the same year as a future
President of the World
Bank and a member of
the French President’s
cabinet, but we’re not
dropping names!
5
He is a fierce fan of
horse races, he still rides
regularly, having traded
in the track for the forest.
6
Aged 46, he is married and
a father of four children
who have inherited his
passion for horse racing.
7
If offering him some
wine, make sure
it’s from Burgundy.
9
Long before the
acquisition of Eurotiercé,
he spent three years in
Brussels representing
France in negotiations
for the European budget
and farming subsidies.
10
Between 1994 and 2002,
he was a winger for the
Mickeys de l’Olympe
amateur rugby team.
PMU 2014
5
PMU
2020
PMU 2020 IS THE PROGRAMME THAT AIMS TO DEFINE A NEW
GROWTH AND DEVELOPMENT MODEL FOR PMU UNTIL THE YEAR
2020 AND BEYOND. THE OBJECTIVE IS TO TRANSFORM PMU INTO
AN INTERNATIONAL COMPANY, ONE THAT IS OPEN AND INNOVATIVE.
OPERATING IN FRANCE AND ABROAD, PMU WILL POSITION ITSELF
AS THE BENCHMARK ON ALL TYPES OF BETS AND ON ALL NETWORKS,
BE THEY PHYSICAL, DIGITAL OR SOCIAL.
Activity report
6
WE
WILL DO
OUR BEST
TO BE MORE
LIKE YOU
WE WILL
NAVIGATE
EVERY
CHANNEL
The pitch
The pitch
Our 12,500 sales outlets currently
represent 80% of PMU turnover, and
are an essential driver for the future
of the business. The PMU 2020
programme aims to modernize these
outlets in order to generate growth
of 1% year-on-year in horseracing.
The objective is to satisfy and excite
existing punters, while attracting
new customers.
One of the key pillars of the PMU
2020 programme is to achieve a
60% growth on digital channels by
2020. However, there is a close link
between digital and physical media,
and both serve the same objective:
to enhance customer experience.
How PMU is going
to achieve this
By constantly improving its existing
infrastructures (applications,
websites, social media
presence), as well as exploiting
digital innovation to upgrade
punter experience.
By diversifying its activities in order to
reflect the aspirations of its punters:
the one-size-fits-all PMU needs to
move on. From offers for first-time
punters to those targeting customers
in a hurry, through specific spaces for
seasoned racing followers, there is
a PMU experience for everyone!
Why it is already underway
In 2014, three new outlet concepts
were tested in 34 towns and
cities across France. They all share
enhanced customer service and an
advanced technological experience.
By 2017, every one of our 12,500 outlets
will have been converted according
one of these concepts.
How PMU is going
to achieve this
Why it is already underway
If 2013 was the year of the app, with
the relaunch of the horseracing app,
the launch of the poker and sport apps,
and the makeover of the PMU.fr
website, 2014 was clearly the year
of online/offline complementarity.
Mobile alerts with an invitation
to join in a real-life game of table
football, a race simulator for largerthan-life emotions, GPS sensors to
follow horses in real time during
a race… All these are fun, and no
longer just science fiction.
PMU 2014
7
WE WILL
TAKE OUR
BETS ON
THE ROAD
WE WILL
WIN THE
HEARTS
OF NEW
PUNTERS
The pitch
The pitch
Since the 1980s, PMU has been
exporting its knowhow, offering
foreign operators data and images
from French horseraces. Today, the
objective is to continue at a gallop
in order to derive 10% of net margin
from activities outside France
by 2020. This is one of the key pillars
of the strategic plan.
Customer segmentation
is a major ambition of the PMU 2020
programme. To grow our business,
it is essential to recruit – and retain – new customers. Young people,
first‑time punters, female punters –
all these groups will be targeted.
How PMU is going
to achieve this
By continuing to forge partnerships,
as well as identifying acquisitions
or establishing subsidiaries, in order
to offer PMU bets directly to foreign
punters while financing local
horseracing sectors. This implies
investing in the necessary human
and commercial expertise…
not to mention brushing up
on our language skills!
Why it is already underway
In 2013, PMU acquired the Belgian
operator Eurotiercé, and initial
results are promising. This year
marks a new set of challenges:
new prospecting tools, new
markets and, above all, the arrival
of a new International Corporate
Development manager.
How PMU is going
to achieve this
First, by understanding what they
want. Next, by finding ways to
attract their attention. Finally,
by building their loyalty. Our idea?
There is a PMU for everyone.
Why it is already underway
Two years ago, PMU undertook
essential groundwork to identify
different customer profiles.
Its findings have already been put
to good use to upgrade customer
service and refine the product
offer. This process is also leading
PMU to think “outside the box”
by exploring new recruitment
techniques, such as the
organization of giant clubbing/
dating events on racecourses.
Original and irresistible…
8
ACTIVITY REPORT
WE WILL
BE FIRST
PAST EVERY
POST
WE WILL
BE THE SAME
…ONLY
BETTER!
The pitch
The pitch
At present, PMU is the N°1 operator
for horserace betting in France,
N°2 for sports betting, and N°3 for
poker. In five years’ time, there will
only be one figure to remember: N°1.
This is the objective of the "core"
assertion of PMU 2020.
Rome was not built in a day… nor
without the Romans. PMU 2020 is
to help move the company forward
internally, keep up with the evolution
of its business model and turn into an
ever more attractive, responsive and
innovation-driven operator.
How PMU is going
to achieve this
How PMU is going
to achieve this
By stepping up the development of its
sports betting and poker offer, and by
continuing to innovate in horserace
betting, both in sales outlets and
online. PMU aims to adapt its offer
to new consumption patterns and
habits, ensuring PMU is always there
where you expect it… and where
you don’t.
By ensuring roles within the company
evolve simultaneously as its activity,
by enhancing cooperation at every
level, by streamlining processes to
achieve greater efficiency and agility,
and by developing a corporate culture
around a core of shared values.
Why it is already underway
Why it is already underway
Since May 2014, the Quinté+ has
been offered throughout the day
– a masterstroke of technology and
organization! PMU has also developed
new offers, notably around poker
game(s) and the FIFA World Cup.
No less than 23 reviews of evolution
processes have been launched,
addressing such diverse topics
as improving everyday working
conditions, raising social media
awareness, discovering new jobs on
the ground, or building up an in‑house
social network.
PMU 2014
9
FROM TURF
TO TABLE
PLAYING ON ALL SURFACES
HORSERACE
BETTING
SPORTS
BETTING
EQUIDIA
POKER
THANKS TO THE COMPLEMENTARITY OF ITS OFFER,
PMU HAS BEEN ABLE TO MOVE FORWARD IN DIFFICULT
ECONOMIC CONDITIONS FOR THE LEISURE
INDUSTRY. THANKS TO THE UNDERLYING STRENGTH
OF THE BUSINESS AND ITS CAPACITY TO INNOVATE,
PMU HAS BECOME A MAJOR PLAYER IN FRANCE AND
INTERNATIONALLY, FROM THE TRACK TO THE TABLE.
Activity report
10
Horserace
betting__________
STILL LEADING THE FIELD
Horserace betting, PMU’s historic
activity, still represents more than
90% of total wagers. In a tough
economic climate, the business
is holding up well and hitting its
targets. PMU is the leading operator
in France, and every year pays
out its entire net profit to racing
associations, whose role is notably
to organize races and maintain
tracks. PMU thus contributes to
the financing of 80% of the equine
sector, which is directly responsible
for 180,000 jobs.
INTERNATIONAL
BUSINESS ON THE UP
In 2014, PMU registered healthy growth
in its International business (+14%).
New partnerships contributed to this
performance, including the launch in
New Caledonia and strong partnerships
forged with countries like the United
States, Germany and Switzerland.
To support its internationalization,
PMU also launched its first Englishlanguage website, horseraces.pmu.fr,
which provides information, betting
odds and forecasts.
In France, PMU rolled out an ambitious
programme to recruit punters and
build loyalty, including promotions
for PMU card-holders and operations
such as “30 jours gagnants Quinté+”.
This month-long initiative, involving
a prize draw for Quinté+ punters,
guaranteed 17 winners every day for
30 days in all PMU outlets. Online,
dynamic promotional operations on
the new PMU.fr platform enabled the
company to retain an 82% market
share.
CHANGING WITH
OUR CUSTOMERS
In order to cater more effectively to
customer demand and to recruit new
punters, PMU introduced a whole
series of innovations in 2014. Three
new sales outlet concepts, better
geared to different ways of betting,
were tested and approved, both by
managers and customers. Outlets
also evolved to integrate the latest
advances in contact-free payment
technology and to offer credit card
payment for sums over €1.
Alongside these developments, PMU
also adapted its betting offer, most
notably making the Quinté+ available
throughout the day. This means it is no
longer necessary to wait for the day of
the race, since betting opens the day
before. Until now, punters could only
bet on the Quinté+ on the morning of
the race. Henceforth, the next day’s
Quinté+ is available as soon as the
current Quinté+ is opened for payouts. Punters can thus place a bet at
any time of day, on all five continents.
This is a particular advantage for
inexperienced punters, who do not
necessarily know the departure time
of the Quinté+ race.
KEY FIGURES
€9.16
billion
STAKED ON PMU
HORSERACES IN 2014
48,000
Sports
betting__________
PACKING
A PUNCH
NEW PMU CARD-HOLDERS
16,428
RACES OFFERED (INCLUDING
2,793 FOREIGN RACES)
22%
OF ONLINE BETS
FROM MOBILE USERS
Since March, the daily Quinté+
jackpot has increased to €2
million, making it more attractive
to punters. In response to demand
from regular punters, the threehorse betting offer has been
simplified (for example, the Trio
Ordre is now offered on races with
from four to seven runners).
The Flexi 25%, meanwhile, has
been extended to 2 of 4, Multi and
Mini Multi bets. Finally, the race
schedule has been supplemented
with extra meetings both in France
and abroad
Four years after the launch of its
sports betting activity, PMU is
consolidating its position as the
sector’s second largest operator,
despite a slight decline in market
share (22 points, down from
25 in 2013), attributable to the
emergence of new operators.
Drawing on its extensive betting
experience, PMU offers more than
4,700 bets every day on around
30 different sports.
ON EVERY FRONT
In an increasingly competitive
market, PMU is achieving excellent
results and holding up impressively.
The total wagered on PMU sporting
bets reached €228.7 million, an
increase of 14.9%. While football
represents the lion’s share (67% of
the total), tennis, basketball and
rugby are also very popular.
Live betting continues to excite
punters, representing 40% of total
stakes. In all, more than 60,000
events were offered for betting
in 2014.
Activity report
KEY FIGURES
SPORT, EVERYWHERE,
ALL THE TIME
In four years, PMU has successfully
established itself as a go-to partner
for sport. To support its activity, PMU
has launched initiatives at every level:
partnerships with the French national
football team* and Paris SaintGermain**, the French rugby league***,
the French cycling league**** and the
Stade de France, innovative operations
(pitch-side sofas, the PMU hand, the
table football challenge), development
of new offers and new media etc.
In particular, this strategy helped make
the FIFA World Cup a real success for
PMU, with €27 million in bets, a 24.7%
market share and 80,000 new punters.
The “Si tu vas à Rio” recruitment and
loyalty-building campaign reflected
the company’s ingenuity in rising
to the challenge of this exceptional
event. With initiatives and operations
on all activities, not only sport, PMU
succeeded in reaching a wide audience
and bringing people together.
Coinciding with the FIFA World Cup,
PMU launched its mobile sports
betting app on Android in order to
reach an even larger audience (40%
of sports wagers are now placed via a
mobile device).
In addition, to make live betting an
even more attractive proposition,
PMU offers more than 1,000 videos
a month – in excess of 1,800 hours of
programming – on the PMU.fr website
and PMU mobile applications.
4,700
BETS OFFERED EVERY DAY
60,000
EVENTS OFFERED
FOR BETTING
€27 M
IN BETS DURING
THE FIFA WORLD CUP
12,000
MATCHES AVAILABLE
ON VIDEO ON PMU
PLATFORMS
40%
OF TOTAL STAKES
Finally, since November 2014, handicap
betting has been authorized for
rugby matches, which points to great
potential for this sport in 2015.
* French national football team, U21s, women’s
team, French Cup and the Petits Poucets
** First team, women’s team and handball team
*** Top 14 and Pro D2
**** Coupe de France de Cyclisme
PMU 2014
13
Po�er__________
IN GOOD HANDS
PMU has been present in online poker
since 2010, and retains its ranking
as France’s third largest operator
on this market. To consolidate this
good performance, it is stepping up
its efforts to recruit new punters and
build customer loyalty.
Whether through the performances
of its Team Pro, the extension of its
offer, or its presence at national and
international events, PMU holds a
winning hand.
HIGHLIGHTS
On a declining market, PMU stakes
increased to €591.6 million, representing
a market share of nearly 10%. To take
advantage of the popularity of the
FIFA World Cup, PMU Poker adopted a
strategy of complementarity, offering
tournaments whose prize was a trip to
Brazil, complete with match tickets.
The second half of the year was
marked by the renovation of the
tournament schedule and the launch
of new products, such as Spot Poker
(which enables players to skip their
turn if they are not happy with
their cards and to instantly move
to a new table), in line with market
expectations.
HIGH PROFILE
To counter the lack of dynamism
in the market, PMU Poker teams
demonstrated impressive ingenuity in
keeping the business moving onwards
and upwards. Responding to the
boom in mobile consumption (+235%),
PMU launched a new version of its
application, which is more intuitive
and more attractive, as well as a new
PMU Poker software programme,
which capitalizes on the social aspect
of the game and better reflects the
demands of players.
Above all, however, PMU significantly
raised the profile of its poker activity
by stepping up its presence at
international tournaments and linking
these to a mix of initiatives on its
platforms. Capitalizing on events such
as Paris Poker Live, the Hip’Poker Tour
on racecourses, the NH Poker Open
(the largest amateur tournament
ever organized) and various stops on
the World Poker Tour, PMU offered its
players never-before opportunities
in order to build their loyalty and
enhance their experience.
KEY FIGURES
+2,000
PLAYERS ON WPT STOPS
SPONSORED BY PMU,
A RECORD
76,151
MULTI-TABLE TOURNAMENTS
ON THE PMU PLATFORM
14
EQUIDIA
EQUIDIA, WITH ITS 360° FORMAT,
IS THE SPEARHEAD OF PMU’S TV-MULTIMEDIA
STRATEGY, AND ONCE AGAIN PROVED IN 2014
ITS ESSENTIAL ROLE IN RECRUITMENT
AND THE REALIZATION OF THE OBJECTIVES
OF PMU 2020.
Equidia celebrated its 15th anniversary in 2014. Since it
launched in 1999, the horseracing channel has evolved
into a complete media brand dedicated to horses and
horse-lovers.
Thanks to its 360° offer, it now reaches 22 million
households in France, Switzerland and Belgium, and
every month attracts 3.3 million viewers to its two
TV channels, Equidia Live and Equidia Life, as well as
280,000 visitors to its equidia.fr website, and more
than 170,000 users of its applications.
In 2014, during the World Equestrian Games in
Normandy, Equidia beat all previous audience records:
1.7 million TV viewers followed more than 150 hours of
special programming on Equidia Life, representing an
unprecedented level of media coverage for an event
of this kind in France!
But Equidia is not just a series of figures, however
impressive these may be: it is first and foremost a
complete and successful media outlet which has
evolved in terms of both content and format, fulfilling
an ambitious brief to recruit new users and to support
the development of PMU and the horseracing sector.
15
1.7
60,000
MILLION
VIEWERS ON
EQUIDIA LIFE
—
314,000
VISITORS
A MONTH TO
EQUIDIA.FR
—
USERS OF
THE EQUIDIA LIVE+
SECOND SCREEN
—
EQUIDA IN
2014
—
—
320,000
10,000
EQUIDIA FANS
ON FACEBOOK
—
360°
THE EQUIDIA
OFFER
SUBSCRIBERS
TO EQUIDIA PLAY
16
WHERE
WE ARE
AND WHAT WE’RE DOING THERE
UNITED
STATES
For the third year
running, the Qatar Prix
de l’Arc de Triomphe
was offered in the US
by around one hundred
online and offline
distributors in a pool
with PMU. With stakes
of €641,000 (up by 110%
over 2013), the US is now
PMU’s second largest
pool betting partner,
after Germany.
AFRIca
French horserace betting
has been offered in
sub-Saharan Africa
since 1990, as well as in
Morocco and South Africa.
Currently, 13 Frenchspeaking countries
operate within the
framework of a contract
with PMU France, either
via their national lottery
or through private
companies with a
horserace betting licence.
ACTIVITY REPORT
PMU 2014
17
COMMON POOL
AUSTRIA
DENMARK
ESTONIA
FINLAND
IRELAND
LUXEMBOURG
MALTA
MONACO
NETHERLANDS
Germany
NEW CALEDONIA
SOUTH AFRICA
SPAIN
The German Tote has
been offering PMU pool
betting on French and
foreign horseraces for the
past 12 years. In return,
PMU offers its customers
the opportunity to bet
on equivalent German
events (390 races in 2014).
SWITZERLAND
UNITED STATES
NEW
CALEDONIA
SEPARATE POOL
AUSTRALIA
BENIN
BURKINA FASO
CAMEROON
The first sales outlets
opened in Nouméa in
July 2014 and gradually
have rolled out across
the country. This new
development will create
a diversified offer,
while financing the
horseracing sector in
New Caledonia.
CHILE
DEMOCRATIC REPUBLIC
OF THE CONGO
GABON
GREECE
GUINEA-BISSAU
GUINEA CONAKRY
HONG KONG
HUNGARY
ITALY
IVORY COAST
LEBANON
MADAGASCAR
MALI
MAURITIUS
MOROCCO
NIGER
NEW ZEALAND
NORWAY
POLAND
SENEGAL
SINGAPOR
TOGO
UNITED KINGDOM
COMMON AND
SEPARATE POOL
BELGIUM
GERMANY
SWEDEN
18
Activity report
INTERNATIONAL
TOOLKIT UPGRADE
IN 2014, PMU DEVELOPED A NUMBER OF TOOLS TO SHARE
ITS EXPERTISE AND PROMOTE FURTHER ITS INTERNATIONAL
EXPANSION. A COMPREHENSIVE ENGLISH WEBSITE
AND NEWSLETTER, AN EXTRANET AND A PROSPECTING
APPLICATION FOR THE INTERNATIONAL SALES TEAM ARE
AMONG NEWLY CREATED DEVICES.
1
AN ENGLISH WEBSITE?
MAIS, OUI!
—
To meet the growing demand from its English-speaking and
international clientele, in April 2014 PMU unveiled a new website in
English: www.horseraces.pmu.fr. The site contains all the news and
information needed to bet on French gallop and trotting horseracing.
Daily racecards of French national courses provide data on runners
and riders including silks and breeding information, as well as course
distances, tips and daily race results. Punters can access information
on French Racing, maps of the courses and betting guides, while
building their vocabulary on the site’s extensive glossary. In-depth
features and events coverage are published daily on the site.
PMU also distributes a bi-monthly newsletter with exclusive content
and the latest news on upcoming events in France. The team of
experts, specialising in both thoroughbred and trotting disciplines,
also provide tipping services, reports and analysis. A window into
the exciting world of French horseracing, this website is a valuable
resource for partners, customers and future customers worldwide.
PMU 2014
19
2
EXTRANET
TO EXPEDITE FINANCIALS,
MARKETING AND COMMS
—
A 2013 customer survey revealed the need to streamline the
processing of financial information. In 2014 PMU implemented a
secure, multilingual as a result, I-PMU. With a login and password,
each extranet user gains access to customised financial details.
Users can download invoices or get detailed billing records, allowing
them to better monitor and manage their accounts. The extranet
is directly connected to PMU's Infocentre, an online database that
supplies partners with racing information necessary for betting on
French races.
3
MOBILE-FRIENDLY
PROSPECTING?
THERE’S AN APP FOR THAT
—
By 2020, 10% of PMU’s net revenues are expected to come from
outside France’s borders. To achieve this goal, PMU launched
a new prospecting tool for the International department. This
modern, colorful application showcases the company’s dynamic
offerings as well as its savoir-faire. Teaser videos, photos, brochures
and powerpoints are all in one place, empowering the business
development team to deliver more coherent presentations and sales
pitches. The application is available on PCs, laptops and tablets,
so any sales team member can use it on the road, during face-toface meetings with customers or at the office. A built-in email
component also allows team members to quickly share powerpoints
and videos directly with prospects via the application. The launch of
this tool in November 2014 has led to more organized and effective
communications with potential customers.
20
WHY IS FRENCH
RACING
ON THE RISE?
FRANCE EXPORTS MORE THAN JUST CHAMPAGNE
AND JEAN DUJARDIN! FRENCH HORSERACING
IS LEADING THE FIELD INTERNATIONALLY –
AND HERE’S WHY.
1
4
7
Because French races
are high quality. As
strictly organized as
a garden trimmed or
drawn by Lenotre, French
horseracing is first
and foremost a stable,
well‑run business.
Because races are
above suspicion.
Racing associations
have a zero tolerance
policy on doping, and
transparency is key.
2
Because they cater to
every taste: with more
than 7,800 flat races and
more than 8,600 trotting
races open to PMU
betting, always something
for everything.
3
Because there are daily
races, several times a day.
The French horseracing
sector is one of the most
dynamic in the world.
5
Because their prize
names are legendary.
Longchamp, Arc de
Triomphe, Diane,
Vincennes, Chantilly,
Amérique… They are all
part of the international
horseracing heritage.
Because races are exciting.
Thanks to the knowhow
of racecourses and racing
associations, the images
sold internationally
convey all the sensations
of the sport.
Because races offer hefty
rewards. In 2014, no less
than €542.6 million in
winnings were paid out
to foreign punters!
6
9
Because races are
open. Foreign horses go
head‑to-head to compete
in French races, which
are among the most highly
regarded by professionals.
Because races comprise
an entire enterprise.
French horseracing is
a perfectly balanced
economic model which
supports an entire sector
throughout the country.
8
André Carrus
invents a bet which
introduces the
notion of past-thepost order, with
winnings calculated
accordingly: the
first Tiercé is raced
at Enghien on
January 22nd and
soon becomes
an institution. It
celebrated its 60th
anniversary in 2014.
Launch of
the Tiercé
Establishment
of Pari Mutuel
Urbain
Racing associations,
the only entities
authorized by law to
organize horseraces
and accept bets, are
given permission to
offer bets away from
racecourses. They
establish a shared
service: Pari Mutuel
Urbain.
1954
1930
A RACE THROUGH
THE HISTORY OF PMU
TOP
SPEED
—
For the first time,
PMU opens pool
betting on French
horseraces to foreign
punters.
French punters now
have the opportunity
to bet on a selection
of flagship races on
the international
circuit. Thursday 3rd
April 1997 : 1st foreign
race in Dubaï, on
the occasion of the
Dubaï World Cup.
Betting opens
on foreign
horseraces
1997
PMU now offers
Internet betting,
with accesible
information
for a community
of punters.
Following the
opening of the
French online
gambling market,
PMU extends its
expertise to new
activities, cementing
its leadership in
online horseraces
betting.
PMU completes its
first BtoC acquisition
outside France,
successfully bringing
its expertise to a
new market and
furthering its
international vision.
PMU acquires the
Belgian operator
Eurotiercé
2013
A French punter
strikes gold,
smashing all
previous records
by winning a
Quinté+ jackpot
of €10,552,350
Record win
2011
PMU launches
online sports
betting and poker
2010
PMU keeps pace
with punters by
adapting its offer
to lifestyle changes.
Betting goes
mobile
2006
PMU launches the
website PMU.fr
2003
Equidia becomes
the first TV channel
dedicated to horses.
In 2011, it splits into
Equidia Live for
horseracing and
Equidia Life for
equestrianism.
After the Tiercé and
the Quarté, PMU
launches its new
flagship bet, which
will become the
most popular form
of wager among
seasoned punters.
First
international
partnership
with Monaco
1987
Launch of the
Equidia TV
channel
1999
Launch of
the Quinté+
1989
PMU 2014
21
Activity Report
22
2014
IN FIGURES
7.5
€
9.16
€
9.98
€
BILLION: WINNINGS
PAID OUT TO PUNTERS
BY PMU IN 2014, A RATE
OF RETURN OF 75,3%
BILLION: TOTAL
BETS PLACED ON
HORSERACING IN 2014
BILLION: TOTAL
BETS PLACED IN
2014, INCLUDING
HORSERACING, SPORTING
EVENTS AND POKER
12,500
+53 %
+14 %
SALES OUTLETS
growth in bets placed
via smartphones and
tablets, all events
combined
GROWTH OF
INTERNATIONAL
TRANSACTIONS
IN PMU BETTING
1,480
142
14,540
TRANSACTIONS PER
SECOND AT PEAK TIMES
PUNTERS WON MORE
THAN 100,000 EUROS
TERMINALS ROLLED
OUT TO SALES OUTLETS
23
ONLINE
POKER
SPORTS
BETTING
+3.8
+14.9
GROWTH OF ONLINE
POKER, CEMENTING
PMU’S POSITION AT
NUMBER 3, WITH
A 10% MARKET SHARE.
GROWTH OF SPORTS
BETTING, GIVING
PMU THE NUMBER
2 POSITION, WITH
A 22% MARKET SHARE.
%
10
%
MARKET
SHARE
BREAKDOWN
OF PMU
TURNOVER
%
22
%
MARKET
SHARE
1.5%
FOREIGN
PARTNERS
5.7%
PMU
OPERATING
EXPENSES
8.5%
NET EARNINGS
TO HORSE
RACING SECTOR
9%
STATE
75.3%
WINNINGS
PAID OUT
TO PUNTERS
€850
MILLION
—
Net profit in 2014, paid in full
to the racing associations
that are members of the EIG
to finance the horseracing
sector.
€1.66
BILLION
—
Internet bets (horseracing,
sporting events, poker),
making PMU.fr one
of France’s leading
e-commerce sites.
6+ BILLION
—
Transactions a year
24
8
1,800
MILLIONAIRES
€2
MILLION
—
Guaranteed every
month in PMU Poker
tournaments
AMATEUR
FOOTBALL CLUBS
KITTED OUT BY PMU
1+ MILLION
DOWNLOADS FOR THE FOUR
PMU APPLICATIONS
€1.6 M
RECORD STAKES
FOR THE 2014
FIFA WORLD
CUP FINAL
SPORTS BETTING
67%
FOOTBALL
4
16% 7%
TENNIS
CENTRAL
SITES IN
THE PARIS
REGION
BASKET
27
5
4%
RUGBY
REGIONAL
AGENCIES
REGIONAL
MANAGEMENT
DEPARTMENTS
25
IN MILLION EUROS
2014
2013
PROGRESSION
STAKES
9,979
10,405
–4.1%
RETURN TO PUNTERS
–7,516
–7,879
–4.6%
GROSS GAMING REVENUE
2,463
2,526
-2.5%
GROSS MARGIN BEFORE TAXES
2,337
2,419
–3.4%
OPERATING EXPENSES
–584
–604
-3.3%
OPERATING PROFIT
1,753
1,815
–3.4%
NET PROFIT BEFORE TAXES
1,749
1,811
–3.4%
TAXES
–899
–957
–6.1%
NET PROFIT
850
854
-0.5%
Despite consistently difficult economic
conditions, PMU successfully limited the
decline of its gross gaming revenue to 2.5%
in 2014. Thanks to its undisputable strength,
PMU has been able to hold up very well despite
the unfavorable economic circumstances.
Thus, densification of its sales network,
international expansion and ongoing growth
of its diversified activities (sports betting
and poker) are all factors helping to maintain
PMU's performance.
Furthermore, operating costs were down
by 3.3%, reflecting the company’s rigorous
management and drive for cost efficiency.
Operating profit declined by 3.4%, while
net profit paid out to the horseracing
sector remained stable at €850 million
(-0.5%), enabling the sector to continue its
development initiatives
Activity report
26
THE MANAGEMENT
TEAM
7
8
4
1
2
PMU 2014
27
1 PIERRE PAGÈS General Secretary 2 ALAIN RESPLANDY-BERNARD Deputy General Manager
3 XAVIER HÜRSTEL Chairman and CEO 4 BENOÎT COSSÉ Chief Financial Officer 5 ÉRIC BRION
TV-Multimédia Division General Manager 6 MICHEL ODDOS Chief Retail Officer 7 BENOÎT CORNU
Chief Communication Officer 8 CHRISTOPHE LERAY Chief Operations and information Officer
9 MYLÈNE COLLIN Chief People Officer 10 AYMERIC VERLET Head of International Development
SAMUEL LOISEAU joined PMU as Marketing and Clients Director on March 17, 2015
9
10
5
6
3
Activity report
28
GOVERNANCE
58 RACING ASSOCIATIONS
AND ONE ECONOMIC INTEREST GROUP
LEADING BETTING OPERATOR IN EUROPE
AND 2ND BIGGEST PARI MUTUEL BUSINESS
IN THE WORLD, PMU IS AN EIG WHOSE MISSION
IS TO FINANCE THE FRENCH HORSE RACING INDUSTRY.
The Board
of directors
Xavier HÜRSTEL
Chairman and CEO
Alain RESPLANDYBERNARD
Deputy General Manager
Bertrand BÉLINGUIER
President of France Galop
Dominique de
BELLAIGUE
Chairman of the Société
d’Encouragement
à l’Élevage du Cheval
Français
Noël FORGEARD
Member of the France
Galop Committee
Paul ESSARTIAL
Member of the Board of
Directors of the Société
d’Encouragement à
l’Élevage du Cheval
Français
Also in
attendance
Pierre SCHWARTZ
Deputy Director of
Rural Development and
Equine Affairs, Ministry
of Agriculture, Food and
Forests
Christian VANIER
Executive Director,
Institut Français du
Cheval et de l’Équitation
Sophie MANTEL
Department Head, Budget
Directorate, Ministry in
charge of the Budget
Henri HAVARD
General inspector of
Finances, Inspection
Générale des Finances
François MOREAU
Government
commissioner to the PMU,
Ministry of Agriculture,
Food and Forest
Vincent SOETEMONT
State controller,
Ministry of the Economy
and Finances
29
Two Supervisory
bodies
PMU comes under the authority of
two French government ministries:
the Ministry of Agriculture, Food and
Forests, and the State Secretary for the
Budget. In addition, the opening of any
new sales outlet must be authorised by
the Ministry of the Interior.
EIG Statute
PMU is an Economic Interest Group
(EIG) composed of 58 non-profit racing
associations. Amongst them, two parent
companies regulate and fund races,
each in its own discipline: France Galop
for flat and jump races and the Société
d’Encouragement à l’Élevage du Cheval
Français for trotting races.
General Meeting
PMU’s General Meeting brings together
the 58 racing associations that are
members of the EIG twice a year. It
approves the accounts and decides on
the planning budget. Every four years it
appoints the chairman-ceo and, on the
latter’s recommendation, the Deputy
General Manager. These appointments
must be approved by the french Ministry
of Agriculture, Food, and Forests and by
the Sate Secretariat for the Budget.
Management
committee
PMU is run by a management committee
comprised of 11 members. Strategic
decisions are submitted to the Board
of directors and the General Meeting,
which is attended by the 58 members of
the PMU EIG.
PMU’S mission:
funding the
french horse
racing industry
PMU markets betting on horse racing
in France. Since 2010, it has offered
bets on sporting events, in partnership
with Paddy Power, and also poker, in
partnership with Bwin party. 365 days
a year PMU offers its customers a wide
range of betting options and related
services and all the information punters
need. All of its net profit is returned to
racing associations that are members
of the EIG, accounting for 80% of the
French racing associations’ revenues.
These associations in turn finance the
241 horse race tracks and training and
breeding centres, maintaining and
modernising them. Furthermore, they
award prizes money and organising
races, of which more than 16,000 are
used by PMU for betting. They also ensure
the continuation of some hundred
jobs and specialized trades: jockeying,
stable hands and grooms, farriers, riding
instructors, veterinarians, saddlers, etc.
This well-organised, dynamic, sustainable
sector of artisan jobs is doing just fine.
It is a model renowned in all countries
where horse racing is practiced, and a
model that today is exported globally.
Board of
Directors
The General Meeting elects the ten
members of the PMU EIG’s Board of
Directors, comprising: the ChairmanCEO, the Deputy General Manager, four
representatives of the French state and
four representatives of the member
associations. The Board of Directors
deliberates on all decisions relating
to the company’s major strategic,
economic, financial, commercial or
technological policies. Each member has
one vote and the Chairman-CEO casts
the deciding vote.
30
RACING
WITHOUT
BORDERS
A TEAM DEDICATED
TO INTERNATIONAL PARTNERS
PMU’s International department is made up of 27 members
within different teams, located in Paris. Some are based abroad,
sharing PMU’s savoir-faire in order to ensure seamless implementation
when they sign new partners hips.
Most team members are multilingual and multicultural, and can pick
up new languages in a snap. Their passports are also loaded with
stamps and visas. Some have vast experience working and living
abroad, while others globetrot for leisure. They also have to adapt to
time difference, especially for the ones working with Asian Pacific.
The common denominators are a strong affinity and an open mind
to all things International.
Global Teams
The business intelligence team
actively monitors the market to find
the best International opportunities.
Area managers are responsible for
prospecting. They establish and
develop relationships with operators
and stakeholders in their respective
country or region. They also manage
the partnerships.
A middle office team supports the
area managers, looking after the
provision of multilingual information
and promotional material. PMU also
has a customer service team based
in Paris to support the International
partner network.
Grand Prix
Get-Togethers
Working across multiple time zones,
the team members communicate
heavily via email and conference
calls as well as video calls, but they
also believe in the importance of
traveling to meet customers face to
face. They gather with their partners
on a regular basis, particularly for
important events. The Qatar Prix
de l’Arc de Triomphe and the Prix
d’Amérique are occasions to welcome
the partners to Paris to experience
the most important events on
France’s racing calendar.
PMU 2014
31
NO
SUCH THING
AS NEUTRAL
Since 1991, LORO in French-speaking Switzerland is one of PMU’s
biggest International partners. Considering the success for both
countries of this longstanding partnership and the contribution of
Switzerland to the company’s International growth (thanks to a new
development in German-speaking Switzerland with SWISSLOS).
PMU has many reasons to rejoice.
Reasons to celebrate
In September 2013, PMU signed a deal
with Swisslos for horserace betting in
German-speaking Switzerland. By the
end of 2014, 84 outlets in 12 Germanspeaking cantons were offering the
entire range of PMU horsebetting
products. This similar partnership to the
one signed with LORO allows Germanspeaking Swiss punters to bet on French
races in the same conditions and in the
same pool as French punters, so that the
winners receive the same payouts on
both sides of the border.
The contract with both Swiss lotteries
includes a financial return to the local
horseracing sector industry.
Moreover, most of the Swiss races are
included in PMU’s racing programme in
France, where Swiss races are becoming
increasingly popular. In 2014 there was
a 21% boost on bets collected on Swiss
horseraces, compared to 2013. This
also has generated additional revenue
for Swiss racing, while providing more
betting opportunities for French punters.
32
Activity report
EUROTIERCÉ:
A FIRST-MOVER
ADVANTAGE
FOR PMU
PMU’s first venture into a B2C model
outside of France has proven even more
successful in 2014, despite a number of
challenges. Offline betting in Belgium is
fierce with some 35 betting operators
present in a relatively small market.
PMU products in Belgium were already
being distributed directly by market
leaders Ladbrokes and Bingoal. Turnover
decreased slightly in 2014 compared to
2013, mainly as a result of losing some of
its VIP gamers. And new, fast-growing
products with higher margins are also
vying for consumer attention. To overcome
these hurdles, Eurotiercé decided to focus
on retail.
Many sports betting providers were
looking for a horseracing offer. Eurotiercé
responded with a complementary product
for betting shops, bookshops and other
offline operators who were not yet
offering bets on racing. As a result, offline
retail revenues tripled in 2014. Whereas
VIP gamers once accounted for a majority
of revenues, the general public now
represents more than 50% of the turnover.
This increase shows the company has
successfully won over plenty of new
punters.
Online also saw a major growth spurt,
thanks to PMU’s deep knowledge of
horseracing betting. The website www.
eurotierce.be contains news, promotions,
and information for punters. The
competition offers many different gaming
products online, but Eurotiercé clearly
positions itself as the place for horseracing
punters. So far, it is on the right track:
online retail revenues also tripled in 2014.
Eurotiercé also sponsored four of the five
Belgian racecourses and organised the
betting for three out of five of the courses
in 2014. Part of Eurotiercé’s turnover is
given back to the Belgian racecourses
thanks to the agreement signed between
PMU and the Belgian racing Federation
chaired by its president Achille Cassart.
“OUR COMPETITORS DIDN’T EXPECT
EUROTIERCÉ TO SURVIVE 6 MONTHS IN
THIS MARKET. NOW, 18 MONTHS LATER,
SOME WOULD BE INTERESTED IN BUYING
THE COMPANY AT A FAIR PRICE!”
ARNAUD FERRAGU,
MANAGING DIRECTOR AT EUROTIERCÉ
PMU 2014
33
2014
IN BRIEF
HIGHLIGHTS AT A GLANCE
JANUARY
APRIL
AN INFORMATION
WEBSITE
IN ENGLISH
THE
TIERCÉ
TURNS 60
—
First run on January 22nd
1954 at Enghien, the
Tiercé celebrated its 60th
anniversary in 2014 at
Cagnes-sur-Mer. Televised
since 1956, the Tiercé
quickly became a French
institution. It was the
PMU’s star race until the
launch of the Quinté+,
when it gracefully ceded
the spotlight, but retained
a special place in the
hearts of punters.
—
On April 29th 2014, in order to cater to the
growing demand from foreign customers,
the International Department launched
www.horseraces.pmu.fr, a PMU information
website in English. The site offers
comprehensive information on French
meetings with a national audience.
MAY
POKER
PARTNER
—
PMU.fr was a partner of NH Poker Open,
the largest amateur poker tournament ever
organized, which took place from May 8th
to 12th 2014 at the national cycle stadium in
Saint-Quentin-en-Yvelines, near Paris. More
than 2,000 players, 1,000 of whom qualified
via PMU.fr, competed for the chance to win a
€3,000 package for the World Championships
in Las Vegas.
Activity report
34
MAY
ARMCHAIR
FANS
—
For the finals of football’s Coupe
de France and rugby’s Top 14, PMU
gave eight lucky winners of a selfie
competition the chance to witness the
action in an entirely novel way – from
the comfort of a sofa just a few yards
from the pitch! The idea was such a
success that it was rolled out to several
other big events during the year.
JULY
ALLEZ,
LES BLEUS !
—
As an official sponsor of the French
national football team, PMU heartily
supported “Les Bleus” during the
FIFA World Cup. A whole series
of initiatives – including a table
football challenge, tweets of support
projected on the façade of company
headquarters, special versions of
PMU applications, second chance
operations, and up to 120 bets on the
competition’s 64 matches – ensured
the tournament was memorable for
punters too.
JULY
JUNE
IN LOVE
WITH THE
BEAUTIFUL
GAME
—
PMU renewed its partnerships
with Paris Saint-Germain and the
French Football Federation for a
period of four years. Since these
sponsorships were initiated as part of
its diversification strategy, PMU has
forged strong ties with the football
community. It now accompanies
France’s A, U21 and women’s teams,
the French Cup and the Petits
Poucets, as well as PSG’s handball
and women’s football teams.
HAND(S) UP!
—
After nearly 20 years spent waving
at riders in the Tour de France, PMU’s
famous green hand – the colour of
the company-sponsored jersey –
began a new life as the symbol of
PMU’s love of sport. It can now be
seen at Coupe de France and national
team football matches, as well as in
rugby’s Top 14 or on the racecourses.
AUGUST
PMU
LAUNCHES
IN NEW
CALEDONIA
—
Long awaited and eagerly anticipated,
PMU has finally arrived in New
Caledonia, where it already numbers
38 sales outlets, offering local punters
access to a full range of bets.
PMU 2014
35
SEPTEMBER
ON TOP OF
THE WORLD
—
PMU was a sponsor of the Alltech FEI World
Equestrian Games 2014 in Normandy from
August 23rd to September 7th. It was a unique
event in its scale and significance in France,
with eight world championships taking place
simultaneously. Alongside France Galop and
leTrot, PMU promoted the French equine
sector, restating its commitment to excellence.
OCTOBER
JACKPOT
—
On October 24th 2014, a punter from
Martinique scooped up the year’s record
jackpot. The 57 year-old farmer bet €2 on
the Quinté+ in Mons and won €6,850,660 by
following the tips in his local newspaper.
EXPORTING
THE QUINTÉ+
—
Since its launch in 1989, the Quinté+ had
never been run beyond the borders of France.
For its first meeting outside the country,
PMU organized the Quinté+ on the Mons
racecourse in Belgium. The event was a great
success, barely one year after PMU moved
into the Belgian market.
NOVEMBER
TROTTING,
THE
AMERICAN
STYLE
—
The Standardbred Owners
Association of New York
and Yonkers Raceway
worked together with
PMU to offer, for the first
time, weekly betting on
American trotting races.
36
Activity report
RESPONSIBLE
GAMING
PLAYING BY
THE RULES
BETTING SHOULD ALWAYS BE FUN,
AND TO ENSURE THAT IS THE CASE,
PMU IS COMMITTED TO REMINDING ALL THOSE
INVOLVED OF THE RULES OF RESPONSIBLE BEHAVIOUR.
Responsible gaming has
always been a key concern
of PMU, but it was in 2008
that its strategy was first
set down in the charter
“Our responsibility,
our commitments”,
defining the framework
for its permanent
communication
initiatives.
These are based on a set of
simple, natural, accessible
and non-stigmatizing
messages designed to
promote positive behaviours.
The efficacy of the approach
was confirmed by a survey
conducted in late 2013,
which found that the public
welcomed such initiatives
and acknowledged their
relevance and usefulness
in raising awareness of
the risks.
Responsible gaming
messages are targeted at
both punters and sales outlet
managers, who are the
front-line representatives
of PMU’s approach. They
benefit from a dedicated
programme comprising
a specific brochure and
an e-learning module to
keep up-to-date with the
fundamentals of responsible
gaming.
In addition, the issue is
regularly discussed in
Cheval Rouge, the monthly
magazine of the sales
network (8 articles published
in 2014). Last but not least,
2,900 hours of specific
training on the rules of
responsible gaming were
provided last year for new
outlet managers.
Each year, there is a special
focus on one of the four
key themes of responsible
gaming: after the prohibition
of betting on credit in 2013,
it was the prohibition of
underage betting that
was highlighted in 2014.
2.5 million brochures
were distributed and
sales outlets were sent
new communication kits
spotlighting the issue
(stickers, signs, displays).
Prevention messages also
feature prominently on all
PMU material: on PMU.fr,
on terminals and betting
equipment in sales outlets,
on the MyPMU application,
and even on Equidia during
the run-up to a race.
Finally, because responsible
gaming concerns the entire
company, all staff members
in contact with customers
have received training
from the association “SOS
Joueurs” on how to support
punters in difficulty and
guide them towards the
most appropriate solutions.
All new PMU employees are
made aware of the rules of
responsible gaming when
they join the company.
PMU 2014
37
•
RESPONSIBLE
GAMING
BY PMU
PMU IS A MEMBER OF EPMA (EUROPEAN
PARI MUTUEL ASSOCIATION), WITH WHICH IT
SHARES A RESPONSIBLE GAMING POLICY AND A NUMBER
OF COMMON PRINCIPLES, INCLUDING THE PROTECTION
OF MINORS AND THE OUTLAWING OF BETTING ON CREDIT.
•
COMMITMENT
— 1 —
Guarantee
a secure service
COMMITMENT
— 2 —
Protect minors
COMMITMENT
— 3 —
Promote
responsible gaming
1
2
BETTING
IS ONLY FOR
OVER-18S
PLAYING
WHATEVER
THE COST IS NOT
A GOOD BET
—
Minors must not play for
money. It is forbidden by
law. The earlier betting
starts, the greater the risk it
deviates from a recreational
activity into a serious habit
or even addiction.
It is important to be aware
of extreme behaviours, such
as impulsive gambling, the
immediate urge to recover
losses, and the impression of
being able to control chance.
3
4
BETTING
ON CREDIT
IS BANNED
ALCOHOL AND
BETTING ARE
NOT A GOOD
MATCH
—
COMMITMENT
— 4 —
Help to prevent
addiction
COMMITMENT
— 5 —
Provide means
to control spending
COMMITMENT
— 6 —
Offer support and
guidance when
prevention is
not enough
—
Sales outlets are prohibited
from offering credit to
punters. Betting on credit
is a risk both for the outlet
manager, who might never
be paid, and for the punter,
who accrues debts in order
to fund his betting. It is
a process that can lead
to financial, moral and
family problems.
—
Gaming requires clear thinking.
The decision to place a bet
must never be impulsive, but
always deliberate. Alcohol can
influence the way someone
plays. Under the influence of
alcohol, ideas become mixed
up and excitement can lead to
a loss of control.
Activity report
38
CORPORATE
SOCIAL
RESPONSIBILITY
PMU HAS ALWAYS BEEN CONCERNED WITH
WIDER ISSUES, BUT SINCE 2012 IT HAS
SIGNIFICANTLY STEPPED UP ITS COMMITMENT
TO CSR. TWO INITIATIVES COME UNDER
THE SPOTLIGHT HERE
RESPONSIBILITY
AND SOLIDARITY
The environmental dimension of
PMU’s CSR strategy was developed
based on the results of a carbon
assessment conducted in 2012.
After consulting employees on
what its objectives should be in
terms of corporate philanthropy,
PMU restructured its approach
to better reflect its values and
commitments, defining two
key areas for action: youth
entrepreneurship and innovation.
The company is committed to
sustained efforts to reduce its
environmental footprint, and
2014 saw a major in-house
communication campaign fronted
by the character Oscar Touvert.
Oscar encourages the reduction and
sorting of waste, as well as energy
savings of all kinds, thus reinforcing
the practical initiatives organized
all year round, such as ELISE
waste paper sorting baskets, free
mugs for every member of staff
to replace disposable cups, and a
partnership with the “BlaBlaCar”
car-pooling service. Buoyed by his
success, Oscar Touvert will turn his
attention to other PMU sites and
agencies in 2015.
Placing the emphasis on solidarity,
PMU offered its employees the
opportunity to become actively
involved with its corporate
philanthropy strategy in two ways.
The first, developed in partnership
with the association “Pro Bono
Lab”, enables PMU employees to
offer their professional expertise
free of charge to help a range
of non‑profit associations. The
second enables employees already
involved with an association to
present its candidacy to obtain
financial support
FOR ITS FIFTH EDITION, THE PMU CARTE BLANCHE
PHOTOGRAPHY COMPETITION RECOGNIZED TWO
UP-AND-COMING TALENTS: LÉA HABOURDIN
AND THIBAULT BRUNET. THEIR WORK, WHICH
CONJURES A DREAMLIKE AMBIANCE SOMEWHERE
BETWEEN THE REAL AND THE VIRTUAL, WAS
DISPLAYED AT LE BAL EXHIBITION CENTRE IN
PARIS FROM JANUARY 14TH TO 25TH 2015.
A WINNING
DUO
CARTE BLANCHEI
PMU 2014
39
2014
Les immobiles
Their experience in the
context of PMU Carte
Blanche drew on this
contrast to offer an
original viewpoint on
the world of gaming.
After spending two
months between a
village in the Pas-deCalais and the Opal
Coast, observing local
sales outlets, they fused
their two personal
perspectives on this
unfamiliar environment
in a series of strange,
intimate and abstract
images.
Léa, who grew up
in Northern France,
observes the human
condition with an
intimate and scientific
eye, producing images
of uncompromising
darkness and drama.
Thibault, who hails
from the South, works
with virtual worlds and
video games, creating
a typology of empty,
dehumanized urban
spaces.
In 2013, the winner
was the Canadian
photographer Kourtney
Roy for her work They
Already Think I’m Crazy
Every year since 2010,
PMU has promoted the
work of a professional
photographer with
a new and unusual
vision of the world of
gaming. The winner of
the competition is given
“carte blanche” for
four months to create
images of this “other”
PMU. In addition to
a €20,000 prize, the
chosen photographer
is rewarded with an
exhibition and a book
published by Éditions
Filigranes.
40
Activity report
IN USING COCOON OFFSET
RATHER THAN NON RECYCLED PAPER,
THE ENVIRONMENTAL IMPACT OF THIS
ANNUAL REPORT IS REDUCED BY:
—
28
KG OF MATERIALS SENT TO LANDFILLS
4
KG OF CO2, EQUIVALENT TO
41
799
41 KM TRAVELLED IN AN AVERAGE
EUROPEAN CAR
LITRES OF WATER
PMU - INTERNATIONAL DEPARTMENT: 2, rue du Professeur Florian Delbarre - 75 734 Paris Cedex 15
[email protected] — Technical adviser Annie Gatesoupe PHOTOGRAPHY: Thomas Chéné
DESIGN AND CONCEPTION:
www. horseraces.pmu.fr