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Solid Full Year For SPortingbet
Wednesday April 9,2014 : SPORTINGBET ACQUISITION GOOD FOR G.V.C.
Online gambling group turns in a solid FY performance.
Online gambling group GVC Holdings plc has posted its full year ended December 2013 results, highlighting the following achievements:
* Total proforma revenues increased by 69 percent to Euro 180.6 million (2012: Euro 107.1 million);
* Clean EBITDA up year-on-year by 148 percent to Euro 38.3 million, ahead of upgraded market expectations;
* Sportingbet turnaround complete and contributed Euro 4.7 million to 2013 EBITDA;
* EPS rose 83 percent to 58.6 Euro cents (2012: 32.1 Euro cents);
* Quarterly dividend - 11.5 Euro cents declared plus a special dividend of 4.5 Euro cents declared, making total dividends for 2013 of 48.5 Euro cents, a rise of 120 percent.
Management reports current trading at record levels, with net gaming revenue exceeding Euro 50 million for the first quarter of 2014, compared to Q1 2013's Euro 35.6 million.
Commenting on the results, CEO Kenneth Alexander, said:
"Executing the complex acquisition and turnaround of Sportingbet has been a milestone for GVC and has led to greater geographical diversification and a significant increase in profits and dividends.
"We are now ready for the next stage in our corporate development and further geographic expansion through organic growth and acquisitions. GVC aims to deliver this without diluting the dividend. The Board is confident of meeting current market expectations for the 2014 financial year."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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