GVC Holdings PLC controlling company of sports betting and igaming brands Betboo, Sportingbet and Casino Club, stated that it was confident of hitting its raised market expectations having published a strong performance for its latest Q4 2014 results.
The operator had seen recorded improved sports wagering during the quarter up 12% on Q4 2013 figures (see performance chart below). GVC reported net gaming revenues of €217 million in the year to date, which placed performance ahead of corporate expectations for 2014.
Further highlights saw GVC record a daily average of €660,000 in daily gaming revenues, up 26% on €523,000 Q3 2014 performance. Improved wagering performance had been driven by increased player activity during the period, as GVC maintained product performance from a strong 2014 FIFA World Cup.
Mobile gaming revenues supported corporate performance with GVC management reporting €168,000 in daily revenues.
A concern for the company performance, was detailed in the decrease of its wagering margin from 10.5% (Q4-2013) to 9% for the period
GVC Holdings management published the following statement with regards to corporate performance for 2014
“The Board has been delighted by the performance of the Group during 2014 and believes this strength of trading provides an excellent foundation for continued growth in 2015. The investments already made in both marketing and mobile development have borne fruit during 2014 and the Group will be continuing these initiatives in 2015.”
“The Board notes that NGR, from 1 January to 14 December, has amounted to over €217 million, already higher than full-year consensus figures, with another 17 days of the year left to run. The Board remains confident of at least matching the recently raised market expectations for the full 2014 year.”
Performance Overview – GVC Holdings 2014