GVC full-year revenues up 23%
Sportingbet holding company finishes year on a high as Q4 revenues hit 59.4m
GVC Holdings this morning announced a 23% increase in full year net gaming revenues (NGR) after posting record levels of sports stakes and a strong gaming performance for the final three months of the year.
In a pre-close trading update, the company, which operates brands including Sportingbet and Betboo, revealed unaudited full-year NGR of 224.6m, up from 180.6m in the previous 12 months.
GVC chief executive Kenneth Alexander said 2014 had been “an exciting and successful year” and said the company was in “a strong position to further its growth”.
The results were boosted by a strong end of year with total Q4 NGR increasing by 22% year-on-year to 59.4m at a 9.1% margin, and sports wagers exceeding 400m.
However, it was gaming that excelled most after the vertical enjoyed its best quarter of the year with average daily revenues of 344,000, higher than the 302,000 registered by sportbook.
The company also said the New Year had started well with customer deposits for the first eight days of January up 22% to a daily average of 1.6m, daily wagers reaching 4m and a sports margin of 12.8%helping daily NGR hit 779,000.
The overall performance of the group saw it declare an interim dividend payment of 12.5 cents per share, a year-on-year increase of almost 9%, with GVC employees set to benefit due to dividend-linked bonus payments schemes.
“The continued success and growth of the group is a result of the tremendous efforts from the talented and motivated staff we have at GVC, all of which have bonus plans aligned to the level of dividends paid to shareholders,” Alexander said.
GVC is due to detail its full-year results in March. The company’s share price was up 3.5p to 482.5p after early morning trading.