Pari-Mutuel Urbain (PMU) has welcomed the appointment of Eric Woerth as Chairman of the Board of France’s heritage racebook.
Recommended for appointment during the General Assembly of the PMU Economic Interest Group on 13 March, Woerth will take over from Joël Séché, pending the approval from the High Authority for Transparency in Public Life.
In a statement confirming his appointment recommendation, PMU noted that Woerth’s experience as Former Minister and Member of Parliament for the Oise region will provide invaluable experience that will help shape his new role.
Since September 2025, Woerth has worked alongside President Emmanuel Macron and relevant ministers to draft a “PMU 2030 Pact” to support the transformation of horseracing for the benefit of the authorities of LeTrot and France Galop.
PMU will continue its ‘modernisation charter’ under its new Chief Executive, Cyrille Giraudat, appointed in December 2025 following a fallout between the board and former CEO Emmanuelle Malecaze-Doublet.
The fallout reflected divisions over how the PMU should be transformed to match the realities of declining betting turnover and the structural pressures facing French racing.
The Pacte PMU 2030 ultimately rejected proposals to either change the ownership structure of PMU or open the historic operator to private funding, as French authorities view the PMU primarily as a the state’s mechanism for supporting the horse racing industry and its rural economies.
However, in his new position, Woerth will work closely with Giraudat to help modernise the French racing operator and bring about new initiatives to shape the development of the horse racing industry.
For Woerth, this appointment marks a significant departure from active legislative life. The former Minister left his seat as a deputy in the French National Assembly to take on the role as Chairman of the Board of Directors.
A new lease of life for French racing
French racing continues its precarious state, with PMU contributions falling short of targets, as seen with a near-€100m turnover drop in 2024. Both Woerth and Giraudat are tasked with transforming the PMU into a more agile, commercial entity.
Historically, PMU had to distribute almost all net profits to its parent organisations. Woerth’s plan allows the PMU to retain more capital to reinvest in its own growth.
He is pushing for PMU to have the power to access debt markets and manage its own cash reserves, giving it the “oxygen” needed to modernise without draining the daily operating budgets of the racing societies.
A key element of PMU’s modernisation strategy is the launch of its new sportsbook, developed through a partnership with Kambi Group. The project has received approval from the Autorité Nationale des Jeux (ANJ), allowing PMU to expand its betting platform beyond horse racing.
PMU has yet to inform French authorities and partners when it will launch its new sportsbook platform in 2026.