GVC delighted with first quarter performance

Sportbetting and gaming group GVC Holdings delivered a strong performance in a first quarter update published Thursday.

Key performance highlights for the 12 week period ending March 31, 2017, include:

– Sports Brands gross win margin was 9.6 percent (Q1/2016: 8.5 percent)

– Sports Brands total net gaming revenue up 16 percent to Euro 1.9 million (Q1/2016: 1.68 million).

– Sports wagers Euro 12,9 million (Q1/2016: Euro 12,86 million) up 3 percent in constant currency terms.

– Sports net gaming revenues were Euro 948,000 (Q1/2016: Euro 843,000), up 12 percent.

– Gaming/Other net gaming revenues were Euro 1 million (Q1/2016: 838,000), an increase of 19 percent.

– Group net gaming revenues were Euro 241 million (Q1/2016: Euro 215 million), an increase of 12 percent.

The positive momentum continues into the second quarter, GVC reports, with group daily net gaming revenues up 16 percent for the period to 21 May 2017, sports gross win margin’s of 10 percent and wagers up 10 percent.

“I’m delighted at the performance of the Group, with the positive momentum continuing in 2017,” Kenneth Alexander, chief executive officer of GVC Holding’s, said.

“Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer. However, I’m very confident that the combination of continued enhancements to the customer offering combined with a return to more normalised marketing spend will deliver another year of strong progress at GVC.”

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