Strong sports betting performance drives GVC H1 revenues up 15%

GVC
Kenneth Alexander

London AIM listed igaming group GVC Holdings, the operator competing against 888 Holdings for the takeover of bwin.party Entertainment, today published its Interim H1 2015 results.

Reporting to the market, GVC recorded a 18.6% increase in wagering to €824 million (H1-2014: €694 million) for the period.

A strong H1 wagering performance would lead to improved performance throughout all core GVC metrics, as the operator recorded net gaming revenues of €121 million up 15% from the corresponding 2014’s €105 million.

The operator would record a clean EBITDA earnings of €25.5 million up 14% on H1 2014’s €22.4 million.

GVC governance would detail that its positive performance had been driven by improved player activity during the period with an 18% increase on player deposits, despite no major football tournament during the period.

Improved player activity had been supported by strong take-up of GVC products in-play and mobile betting services, which accounted for 38% of gross gaming revenues.

Commenting on the results, Kenneth Alexander, Chief Executive of GVC Holdings PLC, said:

“GVC continues to show strong financial performance, with growth in revenue, clean EBITDA and dividends. The Board would like to thank our talented and motivated staff for helping us to maintain this. We are highly confident for the rest of the year.

“With our track record of delivering value through organic growth and acquisitions we are determined that GVC will play an important role in the continuing consolidation of the online gaming sector. We expect to update the market soon about our discussions with bwin.party digital entertainment plc.”

GVC governance would announce a total dividend declaration of 42 € cents per share. With a positive outlook for the rest of 2015, governance would further note that it was positive of hitting all corporate targets.

GVC  H1 2015 Performance Overview

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