Flutter Entertainment has sealed a deal with France’s Pari Mutuel Urbain (PMU) to provide a multi-channel B2B sportsbook platform. This is a significant move, as it marks the first time an external brand outside of the Flutter group will be utilizing the B2B sportsbook platform. The partnership, which originally launched in 2010, has now been extended.
Under the agreement, PMU will have access to a range of customer products and operational services through the Flutter platform. This includes event management, fixed odds pricing, and risk management services. Additionally, PMU will benefit from ongoing investments into the platform, allowing for seamless sports betting product rollouts.
Emmanuel Vacher, PMU’s ecommerce director, expressed the company’s desire to simplify their architecture through a turnkey solution and focus on marketing and CRM. He emphasized that Flutter’s offering meets this need and the two companies are now committed to a multi-year partnership. The goal is to establish PMU.fr as a leading sports betting provider, offering top-notch user experience and services for horse racing.
Tom Bowry, Flutter’s chief strategy officer, is thrilled about PMU’s decision to extend their partnership and become the first external brand to adopt their B2B sportsbook platform. He highlighted the platform’s innovative capabilities and expressed excitement about the future opportunities as they continue to invest in meeting customer needs and expectations.
This deal comes on the heels of a successful year for Flutter Entertainment, which saw a 25% increase in revenue, totaling £9.51bn (€11.18bn/$12.05bn) in the 12 months leading up to December 31. The growth was particularly notable in the US-facing FanDuel, with revenue rising 38% year-on-year to £3.06bn. Revenue from the UK and Ireland also saw a 15% increase to £2.46bn, while Flutter’s International arm experienced a 36% jump to £2.29bn.
In addition to the PMU deal, Flutter also completed the acquisition of a majority stake in Serbian sports betting and gaming operator MaxBet, in a €141m deal struck in September 2023. All in all, these developments indicate a promising future for Flutter Entertainment, with expansion and innovation driving their success.