GVC Holdings PLC (AIM:GVC), a leading e-gaming operator in both b2c and b2b markets, today provides the following trading update for the two months ended 30 November 2015.
Trading overview
Strong trading has continued during the period under review, despite currency headwinds, with results as follows:
- Net Gaming Revenue (“NGR”) for the two months to 30 November 2015 was 11.7 per cent. higher than the same period in 2014 averaging €716,000 per day;
- Sports wagers in the two months to 30 November 2015 have grown to an average of €4.9 million per day representing an increase of 12.7 per cent. on the comparable period of 2014 (€4.4 million per day);
- a gross win margin of 9.3% was achieved in sports during the period under review compared to 8.7% achieved in the same period in 2014;
- net revenue from gaming grew by 12.5 per cent. to an average of €388,000 per day (2014: €345,000 per day in the same period); and
- customer deposits rose by 8.3 per cent. compared to €1.83 million per day (2014: €1.69 million) in the same period in 2014.
The board of GVC views these results as most encouraging and as further evidence of the Group’s strong growth rates. Consequently the Board is highly confident of the outlook for the remainder of the year. This update follows the Company’s recent announcement of the appointment as COO, of Shay Segev, the highly experienced industry expert and formerly of Playtech PLC and Gala Coral Group.
The key highlights for the two months ended 30 November 2015 and the eleven months ended 30 November 2015 are as follows:
| Average per day in €000’s | Q4-20151 | Q4-20141 | %age change |
Q1 – Q42 2015 |
Q1 – Q42 2014 |
%age change |
|
| Days in period | 61 | 61 | 334 | 334 | |||
| Sports margin | 9.3% | 8.7% | 9.2% | 9.8% | |||
| Sports wagers | 4,921 | 4,366 | 12.7% | 4,567 | 4,000 | 14.2% | |
| Sports NGR | 328 | 296 | 10.8% | 315 | 301 | 4.8% | |
| Gaming NGR | 388 | 345 | 12.5% | 361 | 311 | 16.1% | |
| Total NGR | 716 | 641 | 11.7% | 677 | 612 | 10.5% |
1 period from 1 October to 30 November
2 period from 1 January to 30 November
Kenneth Alexander, Chief Executive of GVC Holdings plc, said:
“I am delighted to announce the continued strong financial performance of GVC for the first two months of the last quarter. The Board remain confident that the outturn for the 2015 financial year will be very positive. GVC has an excellent track record of growing revenues and turning around under-performing assets and the GVC Board is highly confident that a positive vote at the EGM on 15 December 2015, to approve the proposed acquisition of bwin.party digital entertainment plc, will be the next transformational move for the GVC Group.”
For further information:
| GVC Holdings PLC | |
| Kenneth Alexander, Chief Executive | |
| Richard Cooper, Group Finance Director | www.gvc-plc.com |
| Cenkos Securities plc (Nomad & Broker) | Tel: +44 (0) 20 7397 8900 |
| Mark Connelly, Stephen Keys, Camilla Hume | |
| Media enquiries: | |
| Bell Pottinger | Tel: +44 (0) 20 3772 2500 |
| David Rydell, James Newman, Anna Legge, Laura Jaques |
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both b2c and b2b markets. Its core brands are CasinoClub, Betboo and Sportingbet. The Group has approximately 550 employees/consultants, is headquartered in the Isle of Man and has licenses in the Dutch Caribbean, Denmark, United Kingdom, Greece, Ireland, Malta, Romania and South Africa.
Further information on the Group is available at www.gvc-plc.com