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GVC Posts Positive Trading Update

Internet betting group GVC Holdings has published its latest trading update, noting higher revenues and sports wagers.

Key financial highlights for the period ending November 30th, 2015 were:

  • Net Gaming Revenue for the two months was 11.7 percent higher than the same period in 2014 averaging Euro 716,000 per day;

  • Sports wagers in the two months grew to an average of Euro 4.9 million a day, representing an increase of 12.7 percent on the comparable period of 2014 (Euro 4.4 million per day);

  • Gross win margin of 9.3 percent was achieved in the sports vertical during the period under review, compared to 8.7 percent achieved in the same period in 2014;

  • Net revenue from gaming grew by 12.5 percent to an average of Euro 388,000 a day (2014: Euro 345,000 per day in 2014);

  • Customer deposits rose by 8.3 percent to Euro 1.83 million a day (2014: Euro 1.69 million).

Commenting on his company's performance GVC Holdings CEO Kenneth Alexander said, "The Board remain confident that the outturn for the 2015 financial year will be very positive. GVC has an excellent track record of growing revenues and turning around under-performing assets."


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