GVC Holdings plc pleased with FY proforma results

In a post-close trading update for the year to December 31, 2018, GVC Holdings expects full year 2018 proforma underlying Group EBITDA to be in the range of GBP 750 million – GBP 755 million, ahead of current “market consensus”.

Other full year pro forma trading highlights include:

Total online net gaming revenue (NGR), up 19 percent.

A rise in online sportsbetting NGR of 20 percent and sports stakes up 13 percent.

Online gaming NGR up 16 percent.

B2B business growth of 17 percent.

A 3 percent decline in UK Retail like-for-like (LFL) NGR.

European Retail NGR was up 16 percent boosted by strong growth in Italy of 18 percent.

Total Group NGR was up 9 percent.

Kenneth Alexander, chief executive officer, GVC Holdings:

“We are materially outperforming the market and taking share in all of our major territories. As the Group carries this momentum forward into the new year, and starts to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports-betting joint-venture in the US with MGM Resorts, the Board is confident that the Group is very well placed for a successful 2019.”

Preliminary Full Year 2018 results will be released on March 5, 2019.