Confident GVC ups 2016 special dividend

Updating the market this morning, the governance of FTSE-listed GVC Holdings declared that it expects corporate top line metrics of group net gaming revenues and clean EBITDA to be at the upper end of its FY 2016 forecasts.

Issuing a short corporate statement, GVC governance moved to propose a 49% increase in its proposed 2016 special dividend to € 14.9 cents per share (settled in sterling and fixed at 12.5p per share).

Boosted by its positive acquisition of bwin.party entertainment assets, GVC governance stated that the company was in ‘a positive momentum across the business combined with strong cash generation’, making the board confident of the operator’s future performance.

Closing-in on the end of a transformative year for GVC operations, Chief Executive Kenneth Alexander, CEO, stated to investors

“Momentum across the Group has continued to build throughout the year and is a reflection of the hard work of our employees, quality of our technology and strength of our brands. The integration of bwin.party is proceeding positively and ahead of our original expectations. We continue to look forward to 2017 with confidence and expect to achieve further significant progress.”

Closing its corporate update, GVC governance stated that its special dividend would be paid out by February 2017.