Issuing its Q3 2017 trading update (period ending 30 September), FTSE-listed online gambling group GVC Holdings has reported a continued strong corporate momentum, recording growth across its key metrics and KPIs.
Despite competing against a tough Q3 2016 comparative period which featured the final stages of UEFA Euro 2016, GVC would report a 1% increase in daily wagering to €11.3 million for its sports betting division.
GVC’s sustained sports betting performance, combined with an improved period operating margin of 11.5%, would see the firm declare group daily ‘sports net gaming revenues (NGR)’ of €982,000 representing a 3% gain on Q3 2016: €953,000.
The firm’s improved Sports betting performance would be supported by strong growth for GVC’s ‘Gaming Brands’ division which would record a daily NGR increase of 19% to €986,000 (Q3 2016: £828,000). GVC governance would highlight that its group gaming brands improved performance had been driven by product refinements and increased marketing activity.
Entering a crucial Q4 2017 trading period, an enlarged GVC group will continue to support its sports betting activity, announcing the launch of its new Bwin Pan-European marketing campaign launched this August.
Updating investors on GVC Holdings Q3 2017 performance, Group CEO Kenneth Alexander (CEO) commented:
“Underlying1 growth in Q3 represents the highest rate achieved since the acquisition of bwin.party in February 2016. The quick wins made in 2016 have been supplemented by further and continuous improvements across all areas of the business. GVC operates in an industry with significant opportunities and challenges. The combination of our talented employees, proven technology and strong brands, gives me confidence that we can continue to drive shareholder value.”
GVC Q3 2017 Performance Overview