This morning London AIM listed betting operator GVC Holdings (GVC) issued a corporate trading update for its full year 2015 performance (period ending 31 December)
Ahead of its merger with bwin.party Entertainment, GVC reported Net Gaming Revenues (NGR) of €247 million (£184 million) up 10.2% on FY 2014’ €224 million (£167 million).
The operator further detailed that during 2015 it had recorded an average daily NRG trading volume of €679,000 across its divisions.
Issuing its preliminary results for 2015, GVC governance detailed that total sports betting wagering amounted to €1.68 billion (€4.6 million per day), up 14.9% on 2014 (€1.46 billion, €4.0 million per day).
GVC Holdings 2015 Preliminary Results
GVC governance expects to publish its full year 2015 performance will be released in the week commencing 11 April.
Kenneth Alexander, Chief Executive of GVC Holdings plc, said:
“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 (“bwin.party”) 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.”
Closing its 2015 market analysts have been impressed with GVC performance, considering the economic downturn in keys markets of Turkey and Brazil.
Eric Opara, analyst at Edison Investment Research commented on the preliminary results
“GVC’s trading update reveals a company going into its game-changing acquisition of bwin.party from a position of strength. This follows on from bwin’s own recent trading update, which revealed its first quarterly y-o-y growth (up 5%) in more than two years.
GVC’s numbers are particularly impressive when set against the backdrop of significant currency depreciation in two of GVC’s most important markets: Turkey, where the lira is down c 20% y-o-y versus the euro, and Brazil, where the real has been off by as much as 40% against the euro during the period. On a constant currency basis GVC recorded growth of 21.3% y-o-y between Q414 and Q415.”
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