Continued strong performance reported by GVC Holdings
News on 4 Dec 2015
News on 4 Dec 2015
Online gambling group GVC Holdings issued a trading update Friday, showcasing a strong financial performance during the first months of its fourth quarter ended 30 November 2015.
Highlights of the update included:
* Net Gaming Revenue for the two months was 11.7 percent higher than the same period in 2014 averaging Euro 716,000 per day;
* Sports wagers in the two months grew to an average of Euro 4.9 million a day, representing an increase of 12.7 percent on the comparable period of 2014 (Euro 4.4 million per day);
* Gross win margin of 9.3 percent was achieved in the sports vertical during the period under review, compared to 8.7 percent achieved in the same period in 2014;
* Net revenue from gaming grew by 12.5 percent to an average of Euro 388,000 a day (2014: Euro 345,000 per day in 2014);
* Customer deposits rose by 8.3 percent to Euro 1.83 million a day (2014: Euro 1.69 million).
Kenneth Alexander, CEO of the group, said he was pleased with the continued strong financial performance of GVC for the first two months of the last quarter.
“The Board remain confident that the outturn for the 2015 financial year will be very positive. GVC has an excellent track record of growing revenues and turning around under-performing assets,” he said, noting that the proposed acquisition of Bwin.Party Digital Entertainment plc, will be the next transformational move for the group.
