Pari mutuel urbain (PMU) has announced a 3% year-on-year decline in revenue to €4.76bn ($5.36bn) for the first six months of the year.

For H1 2019, PMU’s horseracing sector fell 2% to €4.4bn.

Its French division performed the best, dropping 2% to €3.82bn, while international revenue declined 3% to €551m.

Sports betting and poker faced a steeper drop, falling 17% to €125m and 11% to €264m, respectively.

Despite the falls, Cyril Linette, PMU CEO, singled out the bettor initiatives it has implemented this year and described the second quarter of the year as "the first positive quarter since 2011."

During Q2, the operator generated revenue of €2.33bn, down 2%.

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