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Retail and online betting group GVC Holdings has released their third quarter 2018 financial results, revealing that group revenues were up 14% for the period.
Key financial indicators for the quarter ending September 30th, 2018 were:
GVC's numbers were up largely because of the FIFA World Cup, which saw punters in their markets putting in large numbers of wagers. The company also benefited from the purchase of Ladbrokes Coral, which brings retail and online operations to the betting giant.
Commenting on the results GVC CEO Kenneth Alexander said, "The group's performance in the quarter was very pleasing with momentum continuing across the Online and European Retail divisions.
"As highlighted in our H1 results, we will look to consolidate our position in markets where we are taking market share through the reinvestment of excess returns, and the board is confident in its full year expectations."
"We believe our sports-betting joint venture with MGM is best placed to be the market leader in the US and we have taken the first steps on that journey with the soft-launch of our sports-betting app in New Jersey."