Strong trading update from GVC

Posting a trading update in respect of the nine months to end September 2015 this week, online gambling group GVC reported a strong performance and declared a second interim dividend of 14 Euro cents a share.

Dividends declared so far this year amount to 56 Euro cents per share, an increase over the 55 Euro cents paid in the comparable period in 2014.

Highlights of the update included:

* Net Gaming Revenue for the period was 11 percent higher than the same period in 2014, averaging Euro 670,000 a day;

* Wagers grew to an average of Euro 4.5 million per day, representing a year-on-year increase of 15 percent;

* A gross win margin of 9.2 percent was achieved in sports operations during the period, compared to 10.1 percent achieved in 2014;

* Net Revenue from gaming grew by 18 percent to an average of Euro 356,000 per day (2014: Euro 302,000 per day);

* Customer deposits rose by 14 percent compared with the same period in 2014, standing at Euro 1.7 million per day (2014: Euro 1.48 million).

CEO Kenneth Alexander, said: “I am delighted to announce another record revenue performance for the period. Wagers, NGR and customer deposits all continue to grow strongly. The Board is highly confident about the outlook for the remainder of the year and into 2016. As we continue to deliver value through organic growth and acquisitions we are determined that the enlarged group will play an important role in the consolidating online gaming sector.”

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