SBC News Voice of the Sports Betting Industry
Online gambling group GVC Holdings the operator at the centre of a potential bwin.party reverse takeover announced its H1 2015 trading update. The London AIM listed firm reported that it had increased wagering revenue by 19% to €823 million (H1 2014: €690 million).
Its strong wagering performance transferred to an increase in Net Gaming Revenues (NGR) of €120 million up 14% on H1 2014: €105 million.
GVC governance stated that it would have gained a better NGR performance had its football markets not been affected by customer friendly results during the period, which saw its aggregate sports margin drop to 8.9%.
GVC brands have maintained strong player activity from 2014, further reporting that customer deposits rose significantly during the period to €1.7 million per day, up 18% on H1 2014 (€1.5 million).
Day to day operations in H1 have seen wagering rise to €4.5 million per day, which have further transferred to a daily NGR of €661,000 for the operator.
Looking forward GVC governance would announce that it was confident of hitting 2015 targets following a strong opening to 2015. Company governance would declare an investor dividend of 14.0 €cents per share
Kenneth Alexander, Chief Executive of GVC Holdings plc, said: “I am delighted today to announce another record revenue performance for the half-year. Wagers, NGR, customer deposits continue to grow and the Board remains confident for the outlook for the remainder of the year and beyond.”
GVC H1 2015 Performance Overview
