GVC posts highest rate of growth since bwin acquisition
Net gaming revenue up 13%cc in Q3 as operator reveals another positive trading quarter
GVC Holdings has announced another positive trading update for Q3 after net gaming revenue (NGR) rose 13%cc to €243.5m for the period, making it the most significant period of growth since the firm’s acquisition of bwin.
The operator said it saw an improvement in all key aspects of the business from the same period in 2016, including an 11.2% rise in sport margins despite the fact Euro 2016 provided a significant boost in Q316.
NGR from the group’s gaming brands also rose 17%cc, including a 48% increase in year-on-year revenue for partypoker, which the firm said has benefitted from product improvement and increased marketing investment.
The figures were well received by the market, with the operator’s share price up 2.54% in early trading on Thursday.
GVC CEO Kenny Alexander
GVC CEO Kenneth Alexander said: “Underlying growth in Q3 represents the highest rate achieved since the acquisition of bwin in February 2016.
“The quick wins made in 2016 have been supplemented by further and continuous improvements across all areas of the business.
“GVC operates in an industry with significant opportunities and challenges and the combination of our talented employees, proven technology and strong brands, gives me confidence that we can continue to drive shareholder value.”