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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