Stables: a new shareholder base for new ambitions?

Wednesday, May 1, 2024

The horse racing game launched by PMU has just opened up its capital to new investors such as Tezos. The aim is to accelerate revenue generation and, according to our information, to raise funds in 2025.

Things are changing at Stables. Just over a year after its launch, the horse racing game supported by PMU has just opened its capital to a new investor: the Tezos blockchain (via its foundation).

"The aim of this operation is to turn a new page for Stables," explains Lebnan Nader, who took over the company in early March. Symbol of this change, PMU, which until now was the majority shareholder in the game based on NFT cards of horses (alongside the start-up studio 321 Founded), now only holds 49% of the company.

"PMU helped to launch the project and to make the NFT drops (6666 in total), but now it is time to move on to another stage," adds Lebnan Nader, who welcomes the support of PMU.

Questioned by The Big Whale, some close to Stables point out that this capital change had become the only way to continue moving forward. "As a majority shareholder, PMU was blocking a lot of things," one of them drops.

The entry into the capital of Tezos is no coincidence; Tezos is the blockchain used by Stables since its launch. "Stables is a very interesting project for the Tezos ecosystem," explains Jean-Frédéric Mognetti, president of the Tezos foundation.

With this new organisation, the aim is to accelerate the development of Stables along 2 axes:

👉 The first concerns the game itself. "We need to improve the gaming experience and create more appointments for players," Lebnan Nader stresses. Between now and the summer, Stables players will be able to take part in around fifty races every day.

While the majority of races will be free, some will be chargeable and accessible via the game's own money, "S-Points", a system that is compatible with the Jonum diet that has just been adopted and which we reported on two weeks ago. The stated aim is clearly to succeed in creating revenue in the game.

👉 The second point concerns the internationalisation of Stables. Still confined to France, horse racing has no shortage of potential abroad, particularly in the United States. Australia, New Zealand and Japan are clearly among the priorities. The United States is also an area of conquest.

How soon could Stables be profitable? "As soon as possible", explains Lebnan Nader, who can count on around ten people in his team.

According to our information, the aim is above all to succeed in increasing revenues in the coming months in order to successfully raise funds, probably a Series A, in 2025.

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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