Second quarter of record growth from GVC

gvcholdings-kennethalexander
Kenneth Alexander

GVC Holdings has revealed that trading during the World Cup was up 61% on the same period last year, with an average net gaming revenue per day of €736,000. The firm, which owns the Sportingbet brand, said that trading over this thirteen day period was assisted by the favourable results in the latter stages of the World Cup which resulted in an aggregate sports margin percentage of 11.6%. During this period GVC also recruited a further 11,000 first time depositors compared to 5,000 in the same 13 day period last year.

The World Cup boost comes on the back of a second successive quarter of record trading for GVC. Total NGR of €54.8 million was up 11% on Q2-2013 and up 8.9% on Q1-2014. Total revenues in the six months ended 30 June 2014 were €105.1 million, up 45.4% on H1-2013.

Kenneth Alexander, Chief Executive of GVC Holdings plc, said: “I am delighted today to announce another record quarter and half-year for revenues and an increase in the quarterly dividend. The World Cup has provided the foundation for additional recruitment of funded customers and the Group is now in an excellent position to continue growing strongly.  This success and growth reflects the tremendous efforts from the talented and motivated staff we have at GVC, all of which have bonus plans aligned to the dividends declared to shareholders.  We look forward to providing the market with a more detailed update when we report the Group’s interim results.”

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