GVC reports strong Q4 trading ahead of bwin.party integration

gvcholdings-kennethalexander
Kenneth Alexander,

Issuing a trading update for its Q4 2015 performance (period ending 30 November), London AIM listed GVC Holdings reported a 12% net gaming revenue growth with the operator averaging NGR of €716,000.

GVC highlighted that its improved performance had been driven by an uplift in its sports wagering which had grown to an average of €4.9 million representing an increase of 13% on 2014’s Q4 comparable daily wagering of €4.4 million.

The operator continues its strong customer drive reporting that increases in deposits grew by 8% to €1.83 million per day (Q4 2014: 1.69 million).

Increased customer wagering and deposits were further supported by an improved sports betting gross win margin of 9.3%.

GVC governance were pleased with overall corporate performance, as the operator moves to merge its operations with its acquired bwin.party Entertainment assets.

This week GVC announced the appointment of former Playtech lead strategist Shay Segev as its new Chief Operating Officer (COO). Segev will be charged with leading the eading the operators merger integration with bwin.party Entertainment, which it acquired in August for £1.1 billion.

Kenneth Alexander, Chief Executive of GVC Holdings plc, said:

“I am delighted to announce the continued strong financial performance of GVC for the first two months of the last quarter. The Board remain confident that the outturn for the 2015 financial year will be very positive. GVC has an excellent track record of growing revenues and turning around under-performing assets and the GVC Board is highly confident that a positive vote at the EGM on 15 December 2015, to approve the proposed acquisition of bwin.party digital entertainment plc, will be the next transformational move for the GVC Group”

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