Monday January 11,2016 : G.V.C. POSTS TRADING UPDATE
Preliminary results for FY 2015 look promising.
Online gambling group GVC Holdings plc has issued probably its last quarterly update and trading position prior to its takeover of Bwin.Party Digital Entertainment , reporting numbers for the 12 months to 31 December 2015.
Highlights from the update include:
* Net Gaming Revenue for the year of Euro 247.7 million – up 10.2 percent year-on-year;
* NGR in Q4-2015 of Euro 65.5 million – up 10 percent on Q4-2014;
* On a constant currency basis NGR in Q4-2015 up 21.3 percent on Q4-2014;
* Sports wagers for the year of Euro 1.68 billion – up 14.9 percent year-on-year;
* Sports wagers in Q4-2015 at Euro 456 million – up 13.6 percent on Q4-2014;
* Sports NGR in Q4-2015 was up 5.6 percent at Euro 320,000,with an almost flat 9.1 percent margin compared to the previous year;
* Gaming NGR in Q4-2015 was up 13.9 percent y-o-y at Euro 392,000.
* Total NGR in Q4-2015 was up 10 percent at Euro 712,000.
The company expects to release its FY audited results in the week commencing 11 April 2016.
CEO Kenneth Alexander reported:
"I am delighted to report yet another set of strong numbers as 2015 year ended very positively for GVC. The Board and I would like to thank all our staff for their hard work and continued focus.
"With the shareholders of both GVC and bwin.party digital entertainment plc having voted overwhelmingly for the acquisition of bwin.party on 15 December 2015 and with completion expected on 1 February 2016, and the enlarged GVC Group expected to be admitted to the Main Market on 2 February 2016, we are enthusiastic to commence the integration of the businesses and to continue to drive shareholder value for investors in the enlarged Group."