Journalists Wandering Eyes Posted November 23, 2021 Journalists Posted November 23, 2021 Prizemoney in France is set to rise to €278-million next year, returning to the equivalent levels of 2017. The proposed increase means that prizemoney will be up €20-million (7.75%) from 2019, and €30-million (+12%) from 2021. The increase can be attributed to a growth in PMU net contribution to €820-million–the first time since 2015 that its contribution has risen above €800-million, and up €60-million on 2019–thanks to a growth in betting turnover, sustained international expansion and a drop in PMU expenditures, as well as France Galop's rebounding commercial revenue. France Galop's 2022 budget plan was submitted during a Monday board meeting, and will be formally approved at a committee meeting on Dec. 13. It was also revealed during the board meeting that France Galop expects a positive net result of €6-million for the current financial year, with connections of horses still affected by prizemoney deductions amid the pandemic to be paid those deficits at the beginning of 2022. Total French prizemoney in 2021, therefore, is expected to be €248-million, down 4% from €258-million in 2019. The PMU will contribute €740-million to prizemoney in 2021, with its business improving significantly upon the re-opening of betting shops, and aided by the efforts of both the PMU and France Galop to reduce costs during the pandemic. The post French Prizemoney Increase For 2022 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article Quote
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