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GVC Holdings: Update

The Isle of Man-based online gambling group GVC Holdings plc issued a trading update to coincide with its agm on the island this week, reporting that its Latin American-facing Betboo subsidiary is doing particularly well, with net gaming revenues up 138%.

The trading update covers the period January 1 to May 3, 2011 and shows that:

  • Total net gaming revenue over the period is 10% up year-on-year, averaging €168,000 a day.

  • Mainly German-facing Casino Club operations are up 3%

  • Betaland NGR is up 4%.

  • Overall group sports gross margin achieved over the period was 14.8%, well up on the corresponding period last year which reached 10.9%.

Management said it remained "cautiously optimistic" for the remainder of the year.

Source: InfoPowa News

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