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G.V.C. HOLDINGS ISSUES PRE-A.G.M. TRADING UPDATE

Tuesday May 24,2016 :  G.V.C. HOLDINGS ISSUES PRE-A.G.M. TRADING UPDATE
 
Upward momentum continues at online gambling group.
 
Ahead of its annual general meeting on the Isle of Man later today (Tuesday), GVC Holdings plc has issued a trading update.
 
"Trading at the enlarged GVC Group continues its upward momentum since it acquired bwin.party on 1st February," the company reports. "Average Group pro forma revenues per day in Q2 are currently 11 percent higher than the corresponding period in Q2-2015; and 15 percent higher on a constant currency basis."
 
Kenneth Alexander, CEO said:
 
"I am delighted to be able to report a continuation of the strong trading performance previously announced at the time of our final results on April 25th. It is pleasing to see that our strategy to reinvigorate growth at bwin.party is delivering positive early results, which is in part a reflection of the high quality people within the enlarged Group.
 
"This, together with the transformational B2B deal with Betfred, that we announced yesterday, gives me confidence that we can deliver significant value to our shareholders. In addition, the plan to seek a transfer to the Premium Segment of the Official List is progressing and we anticipate making further announcements on this in due course."

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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