Journalists Wandering Eyes Posted January 28, 2021 Journalists Share Posted January 28, 2021 Due to a better-than-expected profit margin generated by the PMU in November and December, France Galop will redistribute €15-million in prizemoney and premiums for races between May 11 and Dec. 31, 2020 that experienced purse cuts. Prizemoney in France dipped by 20% in 2020. With PMU outlets in cafes and bars forecast to be closed potentially until June, France Galop is projecting a 25% drop in betting turnover for 2021. Prizemoney will be paid out in full in January and February, but from Mar. 1 onwards prizemoney and premiums will be cut in anticipation of losses. France Galop's objective remains to redistribute the amounts initially withheld at a later stage. The severity of purse cuts will be decided during the second half of February and will be applied in linear fashion to all races, but will not affect transport allowances. France Galop projects the cuts could be in the region of 15%. The post France Galop To Redistribute €15-Million in Prizemoney; Plans For Mar. 1 Cut appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article Quote Link to comment Share on other sites More sharing options...
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