GVC reports World Cup boosted first half results
News on 15 Jul 2014
News on 15 Jul 2014
Macau may be blaming the recently concluded football World Cup in Brazil for its unusually slow figures in June, but at least one online gambling group has enjoyed a contrary experience, with the spectacular football festival boosting its second quarter revenues and brightening up the half year numbers.
This week, UK-listed online gaming operator GVC Holdings posted a 45 percent y-o-y rise in net gaming revenue, which reached Euro 105.1 million in H1-2014, thanks to a profitable second quarter.
The football wagering bonanza enabled GVC to add 81,000 new online and mobile punters to its books, 35,000 of them in June alone.
GVC’s numbers included:
* Record Q2 with total NGR of Euro 54.8 million – up 11 percent on Q2-2013 and up 8.9 percent on Q1-2014.
* Total revenues in the six months ended 30 June 2014 of Euro 105.1 million, up 45.4 percent on H1-2013.
* Sports wagers: Euro 354 million, up 7 percent on Q2-2013 and 4.6 percent higher than Q1-2014
* Sports margin: 9.84 percent compared to 9.15 percent in Q2-2013 and 10.01 percent in Q1-2014
* Total NGR: Euro 602,000 per day, up 11 percent over Q2-2013 and up 8.9 percent over Q1-2014
* Sports NGR: Euro 297,000 per day, up 6.5 percent on Q1-2014 and up 8 percent on Q2-2013
* Gaming (casino etc) NGR: Euro 305,000 per day, up 8.5 percent on Q1-2014 and up 14.2 percent on Q2-2013
* Customer deposits topped Euro 142 million during Q2-2014, up 10 percent on the previous quarter, and up 26 percent over the prior year.
* 21 percent quarterly increase in new depositing punters totaling 81,000, and a 70 percent rise compared with Q2-2013.
Management reports that trading up to midnight on Sunday 13 July 2014, when the World Cup concluded, has continued strongly with average NGR per day of Euro 736,000, up 61 percent on the same period last year.
The trading over this thirteen day period was assisted by the favourable results in the latter stages of the World Cup which resulted in an aggregate sports margin percentage of 11.6 percent.
During this period GVC also recruited a further 11 thousand new players compared to 5 thousand in the same 13 day period last year.
GVC chief executive, Kenneth Alexander, said: “The World Cup has provided the foundation for additional recruitment of funded customers and the Group is now in an excellent position to continue growing strongly.
“This success and growth reflects the tremendous efforts from the talented and motivated staff we have at GVC, all of which have bonus plans aligned to the dividends declared to shareholders.”
