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GVC HOLDNGS RELEASES TRADING UPDATE
Posted 2/1/11 : Gaming revenues rise in latest report from online gambling group
The Isle of Man-domiciled online gambling group GVC Holdings plc has released its latest trading update, showing total net gaming revenues for the year 2010 up 5.2 percent to Euro 54.8 million.
Sports wagers rose 23 percent to Euro 69.3 million, although the hold was lower at 13.3 percent (2009:16.6 percent) resulting in a 4 percent drop in sports NGR to Euro 8.7 million.
Revenues from gaming for the year rose 7.7 percent to Euro 46 million.
The group’s Casino Club brand reported total revenues down at Euro 27 442 000 (2009: Euro 29 434 000), whilst Betaland recorded Euro 55 934 000 (2009: Euro 52 907 000) and a margin of 15.7 percent (2009: 17.7 percent)
Betboo achieved revenues of 13 379 000, well up from the Euro 2 867 000 in the company’s launch year.
GVC reports that the top performing quarter of the year was Q4/2010, where sports wagers were 31 percent higher than in Q4/2009, but the hold was substantially lower at 7.3 percent (Q4/2009: 21.6 percent)
“Gaming revenues have now returned to the Q4/2009 levels, suggesting greater economic consumer confidence,” the report notes.
The results are in line with group expectations, and cash available stands at Euro 5.7 million.
Betboo commenced trading in Malta with a staff of 20 personnel and targeting emerging markets on January 5th this year.
There have been no further developments in the group’s litigation with Boss Media, which will next he heard on February 24.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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