GVC Holdings operating firm of Sportingbet, Casino Club and Betboo brands, reported its preliminary results for 2014, recording key growth in all top line performance metrics.
In 2014 the operator had recorded increased player wagering which brought gross revenues up to €1.47 billion (FY 2013: €1.1 billion). The improved player wagering transferred to a 32% increase in net gaming revenues of €225 million (FY 2013: €170 million).
GVC was able to announce a clean EBITDA of €49.2 million (up 28% on FY 2013 €38.3 million) and a profit before tax of €41.3 million, representing a profits increase of 217% (FY 2013: €13 million).
GVC management noted that its improved performance had been driven by increased player activity which had been the result of strategic targeted marketing campaigns and the operator witnessing and maintaining improved momentum from the 2014 FIFA World Cup.
Having reported impressive earnings results, GVC governance announced that it had raised quarterly dividend from 12.5 to 14 €cents per share. Total 2014 Dividends paid by GVC represented 68% of clean EBITDA and 79% of audited corporate cashflows.
GVC were further please to report that 2015 had started strongly for its operations, with the company recording player deposits up 20% to €1.7 million and net gaming revenues up to + €600,000.
Kenneth Alexander, Chief Executive of GVC Holdings PLC, commenting on 2014 results said:
“During 2014 GVC continued to grow NGR, up by 32% in the year; it achieved a 22% EBITDA margin; and distributed 68% of its Clean EBITDA and 79% of its Clean Net Operating Cash by way of dividends. This is an exceptional performance and our growth continues in the broad spread of markets in which we operate. We control our costs very tightly, have highly motivated employees who have financial incentives aligned to shareholders and we are in a strong position to be a consolidator in the industry.”
“I am delighted to announce, yet again, a proposed increase in the quarterly dividend along with a special dividend which in total amounts to a year-on-year increase of 14% in the dividends declared so that shareholders will receive a total of 15.5 €cents in May 2015. GVC has never been in a stronger position and we look forward to 2015 and beyond with confidence.”