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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.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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