GVC reports record daily revenue gains as bwin.party acquisition nears

Issuing a trading update London AIM listed online gambling operator GVC Holdings has reported record daily net gaming revenue gains (NGR) for its nine month 2015 activity (period ending 30 September).

As GVC governance moves to complete its £1.1 billion acquisition of bwin.party Entertainment assets, the operator disclosed an 11% uplift to its daily NGR to €670,000 (Q1-Q3 2014 period – €606,000).

GVC’s online gaming division has been the key performance driver, noting an 18% daily NGR uplift during the period to €356,000 (2014: €300,000).

The gaming daily NGR momentum, has been further supported by a 3% improvement in sports betting NRG to €314,000. GVC governance noted that its sports betting wagers had increased to an average of €4.5 million per day during the period ended 30 September 2015.

GVC Q1-Q3 Performance summary

Commenting on company performance Kenneth Alexander, Chief Executive of GVC Holdings plc, said:

“I am delighted to announce another record revenue performance for the period. Wagers, NGR and customer deposits all continue to grow strongly. The Board is highly confident about the outlook for the remainder of the year and into 2016. As we continue to deliver value through organic growth and acquisitions we are determined that the enlarged group will play an important role in the consolidating online gaming sector.”

GVC governance would use the trading update, to inform the market on progress regarding its acquisition of bwin.party.

The operator detailed that a first draft of the prospectus has been submitted to the UK Listing Authority, GVC  governance, expects that the final document will be posted in November 2015 enabling the transaction to complete in early 2016.