SBC News Voice of the Sports Betting Industry
Having announced record corporate revenues in its H1 2015 trading update of + €800 million, sports betting group GVC Holdings issued an activity warning regarding its Greek market operations.
GVC which has a Greek market presence through its partnership with Centric Multimedia SA, stated that following imposed government controls of monetary restrictions on movements of funds within Greece, its operations had seen a decrease in player activity. .
GVC governance stated that it was too early to forecast the impact of a downturn in Greek player activity on its performance, GVC would therefore continue to monitor the situation.
The operator further stated that it was positive of hitting its full year 2015 targets, despite a Greek downturn as other core markets continue to trade positively.
This week Greece is in the process negotiating new debt terms with the European Union members and the Central Bank (ECB), at present no agreements have been met by creditors and stakeholders.
Having said NO to further austerity measures in last Sunday’s Euro Referendum, it remains to be seen whether Greece is allowed to continue its Eurozone member status. Due to cash controls Greek banks have closed this week as credit runs in short supply
