GVC Holdings PLC (LSE:GVC), the multinational sports betting and gaming group, is pleased to announce Q1 2017 KPIs and a trading update ahead of its Capital Markets Day.
Key highlights: Q1 2017 vs pro forma1 Q1 2016
- Group daily NGR up 13% (+14% in constant currency)
- Sports Brands gross win margin 9.6% (8.5% Q1 2016)
- Sports Brands daily NGR up 16% (+17% constant currency)
- Games Brands daily NGR up 4% (+6% in constant currency)
Key highlights: Current trading (Q2 up to 21 May vs 2016 comparable period)
- Group daily NGR up 16% (+18% in constant currency)
- Sports gross win margin 10.0% (9.6%)
- Daily sports wagers +10% (+12% constant currency)
| Q1 KPIs Per day in €000’s |
Q1-2017 | Q1-20161 | Change | CC Change |
| 90 days | 91 days | |||
| Sports brands | ||||
| Sports wagers | 12,908 | 12,866 | 0% | 3% |
| Sports margin | 9.6% | 8.5% | ||
| Sports NGR | 948 | 843 | 12% | 13% |
| Gaming/other NGR | 1,000 | 838 | 19% | 21% |
| Total NGR | 1,948 | 1,680 | 16% | 17% |
| Games brands | 615 | 592 | 4% | 6% |
| B2B & Non-core | 115 | 98 | 17% | 21% |
| Group daily NGR | 2,678 | 2,370 | 13% | 14% |
| Group NGR (€m) | 241.0 | 215.6 | 12% | 13% |
The Group delivered a strong performance in Q1, with daily NGR up 13% (+14% in constant currency) on pro forma Q1 2016.
Sports Brands continued to deliver strong growth with sports NGR up 12% (+13% constant currency), with the gross win margin of 9.6% an improvement on the 8.5% for the same period in 2016 – despite customer friendly results at the end of March. Meanwhile, daily gaming NGR for Sports Brands grew 19% (+21% in constant currency), reflecting the continued benefits of improved marketing and product, implemented post the acquisition of bwin.party.
Games Brands daily NGR increased 4% (+6% in constant currency) as the division continues to gain momentum. Particularly impressive was the performance of partypoker, which saw a further acceleration in daily NGR.
Current Trading
The positive momentum reported in Q1 has continued into Q2. Group daily NGR is up 16 (+18% in constant currency) for the Q2 period up to 21 May 2017 against the same period in 2016. Sports gross win margin is 10.0% (9.6% in 2016), with wagers +10% (+12% in constant currency).
Capital Markets Day
GVC will today be hosting a Capital Markets Day at which the focus will be to provide an overview of Group’s technology & operations and key B2C brands. No material new information will be provided at the Capital Markets Day.
Kenneth Alexander (CEO) said:
“I’m delighted at the performance of the Group, with the positive momentum continuing in 2017. Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer. However, I’m very confident that the combination of continued enhancements to the customer offering combined with a return to more normalised marketing spend will deliver another year of strong progress at GVC.”
1Assumes bwin.party acquired 1 January 2016
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information:
| GVC Holdings PLC | |
| Kenneth Alexander, Chief Executive Paul Miles, Chief Financial Officer Nick Batram, Head of Investor Relations & Corporate Strategy |
Tel: +44 (0) 1624 652 559 Tel: +44 (0) 20 7337 0100 Tel: +44 (0) 20 7337 0110 |
Media enquiries:
| Bell Pottinger | |
| David Rydell, Laura Jaques | Tel: +44 (0) 20 3772 2500 |
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both B2C and B2B markets. GVC has four business segments with a number of brands; Sports Brands (bwin, Sportingbet, Gamebookers), Games Brands (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets. GVC acquired bwin.party digital entertainment plc on 1 February 2016. The Group is headquartered in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 18 countries.
For more information see the Group’s website: www.gvc-plc.com