Updating the market, FTSE-listed sports betting group GVC Holdings Plc (GVC) has confirmed that it has secured a further investment of €320 million (£275 million) through a secured ‘term loan’ and ‘revolving credit facility’ (RCF). GVC governance detailed that its funding compromised of access to a €250 million ‘term loan’ and a €70 million revolving credit facility (RCF). The loan …
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‘International diversity’ helps GVC Holdings ride out tough Q4 2016 closing
Issuing a corporate trading update, the governance of FTSE-listed GVC Holdings Plc (GVC) has reported a resilient Q4 2016 closing with the operator able to cushion ‘punter friendly’ results and adverse currency fluctuations recorded during the period Despite the tough conditions, GVC was able to record growth throughout its top-line metrics, reporting growth in its group sports wagers, operating margin …
Read More »GVC reduces net debt by selling payments processing business
GVC has agreed to sell its payments processing business Kalixa Group to Singapore-based global payments operator Senjō Group for a total consideration of €29.0 million payable in cash on completion. Prior to completion, an amount equal to the free cash (over and above €2.1 million) in the Kalixa Group will be retained by GVC by way of dividend. The sale …
Read More »Confident GVC ups 2016 special dividend
Updating the market this morning, the governance of FTSE-listed GVC Holdings declared that it expects corporate top line metrics of group net gaming revenues and clean EBITDA to be at the upper end of its FY 2016 forecasts. Issuing a short corporate statement, GVC governance moved to propose a 49% increase in its proposed 2016 special dividend to € 14.9 …
Read More »Why Not? GVC linked to Ladbrokes Coral takeover
The City of London has registered speculation that newly merged Ladbrokes Coral Plc is a potential takeover target of FTSE rival GVC Holdings. Last Friday the Financial Times reported that Ladbrokes Coral shares had gained circa 5% value on the speculation that GVC governance were considering an ambitious reverse takeover of the betting giant valued at a reported £3.2 billion …
Read More »Who Leads? William Hill struggling to find a CEO
The Financial Times has reported that FTSE-listed William Hill is struggling to find a new Chief Executive to officially lead the company following the departure of James Henderson in July. At present, William Hill leadership is being filled by interim-CEO Philip Bowcock, who joined the company last November as CFO from UK cinema chain ‘Cineworld’. The six-month search for Henderson’s …
Read More »GVC benefits from rising margins
Rising sports margins and a slight uplift in wagering turnover helped GVC notch up a 14% constant currency rise on sports net gaming revenue (NGR) per day in the third quarter. The company said the growth trend had continued into October, which saw a 10% constant currency rise in overall NGR per day against what the company described as a …
Read More »GVC poaches Paul Miles from Wonga as company targets 2017 dividend payouts
London FTSE-listed online gambling operator GVC Holdings Plc (GVC) has this morning announced that Group Chief Financial Officer Richard Cooper is set to step down from its board in February 2017. GVC governance informed that Cooper has decided to leave the company in order to ‘pursue private business interests’. The operator has found a direct replacement for Cooper, confirming that …
Read More »GVC Holdings secures Romania ONJN licences
Updating the market, FTSE-listed GVC Holdings (GVC) has confirmed that it has secured a Romanian National Gaming Office (ONJN) allowing it to operate sports betting and casino services for the regulated Romanian online gambling market. Its secured licence will be set for an initial period of 10-years, with GVC promoting Romanian online gambling services through its subsidiary brand Sportingbet. GVC governance …
Read More »GVC Holdings saves €43 million with Nomura refinancing deal
Updating the market this morning, FTSE-listed betting operator GVC Holdings (GVC) has informed investors that it has agreed a refinancing deal with Japanese corporate bank Nomura International Plc. GVC governance has secured a €250 million unsecured loan with Nomura, which will be used to facilitate its existing €400 million long-term loan issued by Cerberus Business Finance. The operator had entered …
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