Betting and gaming operator Gala Coral, reported gross profits up 9.1% to £890.1 million for 2014 (2013 – £815.4 million), as the operator published its unaudited performance report (period up to 27 September).
The operator recorded improved revenue performance of £1.239 billion for the opening nine months of 2014 (2013 – £1.091 billion). The company’s improved revenues and gross profits, translated to an improved corporate EBITDA performance of £235.5 million up 14% on 2013 figures.
Both retail and Interactive business divisions reported improved performance for Gala Coral.
Coral Retail recorded gross profits of £514 million (up 3% on 2013 – 501 million), performance was led by improved in-store machine gross wins of £361 million up 6% on 2013 £339.2 million. Additionally Gala Coral’s European retail betting division Eurobet supported the operators positive retail performance with improved gross profits of 28.7 million up 85% on 2013 £15.5 million.
Gala Coral’s interactive business division proved to be the performance driver, recording a 54% increase in gross profits of £138.9 million (Q3 £90 million). The Interactive division posted an improved EBITDA of 104% with earnings of £49.5 million for the period.
Gala Coral noted that its online performance had been driven by increased player activity witnessed during the period, as all online verticals reported growth during 2014.
Gala Coral Chief Executive Carl Leaver commented on corporate performance:
“The group’s financial performance in the full year was very pleasing with all major divisions reporting underlying growth in both gross profit and EBITDA. The significant investment in launching our new online business is paying off strongly, with gross profit up 54 per cent and EBITDA up 104 per cent”
“Coral retail’s performance was resilient in the face of the worst football results on record during the first half of the financial year and the continued decline in horse racing stakes.”
Gala Coral 2014 Unaudited performance overview
Gala Coral Interactive