Pari Mutuel Urbain, in collaboration with France Galop & LeTrot , has formed a new subsidiary, PMU Brasil, in a joint venture with the Jockey Club Brasileiro. French operator PMU will operate horserace betting on behalf of the JCB, including marketing in retail outlets, online and telephone betting and live streaming opportunities.
PMU President and Chief Executive Officer Hurstel Xavier said, “Through this partnership with PMU, we are entering a new era for horseracing in Brazil. I am convinced that the PMU, with its expertise and as the world’s third largest operator, will bring a more professional approach to the management of horserace betting in our country.“
JCB President Carlos Palermo added, “For JCB, this agreement will allow the transfer of know-how with the formation of Brazilian teams and new resources for the development of local betting.”
