International gaming giant GVC Holdings is predicting a strong financial finish to their 2017, as they say their fourth quarter ended very strong.
A trading update from the company predicted a 13% rise in Net Gaming Revenues for the year, which should come in at around €1 billion. The company also claims that EBITDA is expected to come in at the top end of analyst predictions.
During the fourth quarter, company NGR was €279.5 million coming in from the combined businesses in GVC's umbrella. That rise is 31% higher than the year prior, showing that the group's gamble on purchasing bwin has been worth it. That addition is being complemented by an agreement by GVC to purchase Ladbrokes Coral for a whopping £4 billion.
In the trading update GVC CEO Kenneth Alexander said, "I'm delighted to report another strong year for the group with underlying NGR growth of 18%, reflecting the strength of our brands, technology and the hard work of our talented people. We have once again demonstrated our ability to integrate significant acquisitions, realise material synergies and at the same time deliver top line growth."
"The recommended transaction with Ladbrokes Coral Group presents an exciting opportunity for both sets of shareholders, creating a global gaming group with a portfolio of strong brands across all major regulated online markets, together with proprietary technology and proven management."