Thursday January 9,2014 : TRADING UPDATE FROM G.V.C.
Preview of fourth quarter and full year 2013 results.
GVC Holdings plc, the Isle of Man-based online gambling operator of the CasinoClub, Betboo and Sportingbet brands in Malta, the UK, South Africa, Italy, Germany Denmark, Alderney and the Netherlands Antilles, has posted a trading update covering its fourth quarter and full year 2013 performance numbers.
Revenues in the fourth quarter averaged Euro 531,000 per day, 3 percent ahead of the third quarter, and management therefore expects to report clean EBITDA above the top-end of analysts' current forecasts.
Other highlights in the posting include:
* Q4 sports wagers at Euro 361.9 million and Euro 1,168 million over the full year, with margins respectively of 8.4 percent and 9.6 percent.
* Sports NGR at Euro 22,97 million in Q4 and Euro 90,86 million over the year.
* Gaming NGR at Euro 25,90 million over the quarter and Euro 89,96 million over the year.
* After contributions to a b2b partner, the totals are Euro 48,87 million over the quarter and Euro 168,68 million over the full year.
Management reports that 2013 has been a transformational year for GVC with the completion of the Sportingbet acquisition on the 19 March 2013, its successful integration, a reduction in the inherited cost base of around 50 percent, and a growth in its inherited revenues.
GVC has now completed all of its data migrations onto the single platform of Sportingbet, including that of Betboo. In addition to this, GVC announces that as of Thursday 9 January it has moved its principal gaming licence from Alderney to Malta, where GVC has been established for many years and where its sports trading management is located.
Kenneth Alexander, CEO of the group said Thursday: "The Board is pleased to be able to present excellent figures for 2013 and to continue to reward our shareholders with an increased dividend.
"The Sportingbet acquisition and our successful restructuring of that business has been transformational for GVC. The Board's confidence in the future growth of the Group is demonstrated by our ongoing progressive dividend policy."