GVC Holdings PLC (AIM:GVC), a leading provider of services to the online gaming industry, notes the recent announcements made by a number of its peers in the sports betting industry on the matter of recent unfavourable sports results.
The Group’s trading has held up extremely well in the first two months of Q4 2013, reinforcing the success of GVC’s integration of the Sportingbet business. The sports margin was 8.2% (Q3 2013: 9.4%) despite the “punter-friendly” nature of a number of sports events.
In the first two months of Q4 2013, average wagers per day rose to €4 million per day, up 23% on the prior quarter (Q3 2013 – €3.3 million) and up 12% on October and November in 2012, on a like-for-like basis. Despite the reduction in sports margin percentage, average daily Net Gaming Revenue (“NGR”) in the first two months of Q4-2013 rose by 4% to €536k per day from €516k per day in Q3 2013.
The Board of GVC therefore expects the Group’s full year results to be at the upper end of analyst’s current expectations. The Group anticipates that it will provide a further trading update on Q4 2013 as well as a dividend declaration on Thursday 9 January 2014.
For further information:
|GVC Holdings PLC|
|Kenneth Alexander, Chief Executive||Tel: +44 (0) 20 7398 7702|
|Richard Cooper, Group Finance Director||www.gvc-plc.com|
|Daniel Stewart & Company Plc||Tel: +44 (0) 20 7776 6550|
|David Hart / Paul Shackleton / James Felix||www.danielstewart.co.uk|
|Henry Harrison-Topham / Shabnam Bashir||Tel: +44 (0) 20 7398 7702|
About GVC Holdings PLC
GVC Holdings PLC is a leading provider of services to the online gaming industry. Its core brands are now CasinoClub, Betboo and Sportingbet. The Group has over 600 employees and is headquartered in the Isle of Man and is licensed in Malta, the UK, South Africa, Italy, Germany Denmark, Alderney and the Netherlands Antilles.
GVC is financially focused on generating cash and returning a high proportion of this to shareholders by way of dividends. From 2007, GVC has declared over €85 million or £2.00 per share via dividends to its shareholders. Further information on the Group is available at www.gvc-plc.com