The Brazilian Jockey Club (JCB) will partner with French racetrack operator Pari Mutuel Urbain (PMU) who announced on Friday that it will enter the South American racing market and operate horse race betting in Brazil.
For the purpose of developing and modernizing horse race betting and racing in Brazil, a partnership agreement was created between PMU, and Jockey Club Brasileiro, according to an October 1st statement by PMU. The joint venture results in new subsidiary PMU Brasil which will be utilized to monitor races on JCB track and operate wagering including taking point of sale bets via phone and Internet which will benefit customers. Production of live broadcasts of racing in Brazil will also be a function of the new subsidiary. The brand and race events will be promoted to support PMU Brasil through new advertising campaigns.
Xavier Hürstel, PMU’s Chairman and CEO said, “We are proud and delighted with this partnership with Jockey Club Brasileiro, which has given PMU access to the Brazilian market with the objective of boosting horse race betting and promoting Brazilian races. This agreement is the proof that PMU’s expertise is acknowledged at an international level. This project is the largest we have ever launched outside of France and falls within the scope of our proactive international development policy, itself part of PMU 2020 strategic plan,” according to g3newswire.
The president of Jockey Club Brasileiro, Carlos Palermo welcomed the partnership, which will bring horse race betting in Brazil into a new era, add more professionalism and introduce untapped resources for local bet development.
Losing business to other types of gambling, Latin America Brazilian horse racing has been declining for years, however, recent developments such as the JCB/PMU partnership, the commingling of international horse race activity and Brazilian horse racing, look to revitalize the industry whose golden age was between 1950’s and 1980’s. Brazilian races now have a worldwide audience through a number of agreements, benefiting the industry from more modern, global pari-mutuel industry standards. For the first time customers outside of Brazil can bet directly on Brazilian horse races.