GVC Financials Impress

This story was published more than 2 years ago.

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:

  • Total group revenues up 14%
  • Online net gaming revenue up 28%, with a 31% rise in online sportsbetting
  • Ladbrokes online revenues up 23%
  • Coral up 29%
  • Retail was down 2% from the year prior within the UK
  • European retail was up 24%

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."

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Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.