PMU Acquires Majority Share in German Tote

French horse racing operator Pari-Mutuel Urbain (PMU) announced the acquisition of the majority share in one of its partners, Die German Tote Service- und Beteiligungs GmbH (German Tote). The price tag associated with the deal has not been disclosed and Xavier Hurstel, president and chief executive officer of PMU, has this to say regarding the deal: "The acquisition of the German Tote is an opportunity which allows PMU to become an operator in Germany, and become a part of its equestrian tradition of which we nourish great ambitions and whose betting market offers strong development potential.” The years of partnership between the two companies has allowed German Tote to expand its commercial offerings including services and wagering.