Emmanuelle Malecaze-Doublet to step down as PMU CEO
Malecaze-Doublet will step down after three years at the helm of the French heritage betting operator.
France.- Emmanuelle Malecaze-Doublet will step down as the CEO of the legacy French horseracing betting operator PMU. She will leave in September to become CEO of the private education provider Galileo Global Education.
Malecaze-Doublet has helmed PMU for three years, having joined the group from the consulting firm McKinsey in 2022. She has focused her tenure on modernising the operator’s offering and boosting its presence on the French gambling market. However, while she had the support of France Galop, one o PMU’s two major stakeholders, the trotting association SETF, has crticised her leadership.
SETF rejected PMU’s 2024 accounts due to concerns about the figures. PMU’s gross gaming revenue (GGR) for the year fell by 2 per cent to €1.7bn despite a 6 per cent rise in player numbers to 3.5 million, the highest number since pre-pandemic in 2019. Stakes at retail outlets were down, while online was more positive
PMU has a monopoly on land-based horse racing betting but competes with the likes of ZEturf (now owned by FDJ United) and Betclic in the online space. According to the French gambling regulator, the Autorité Nationale des Jeux (ANJ), online wagers on horses in France rose by 3.6 per cent to €1.5bn in 2024 while GGR rose by 1.5 per cent to €339m.
PMU is running a tender to select new online sports betting providers having offered fixed odds sports betting with OpenBet and Paddy Power since 2010.
