NGR increase is the highlight of GVC’s H1 report
GVC Holdings has reported pro forma net gaming revenue (NGR) of €439m for the first half of 2016, up 8% year-on-year.
The operator specified that pro forma indicates what the revenue would be had its BwinParty brands been acquired on 1 January, while they were in fact purchased in February, in a deal worth approximately £1.12bn.
Sports wagers totalled €2.25bn and sports NGR was €151.6m, up 10%, again on a pro forma basis.
For Q2, GVC brands experienced growth of 24% and BwinParty brands grew by 12% pro forma.
GVC said: “The restructuring is progressing well with synergy targets being achieved and the group remains confident for the remainder of the year. We see further positive catalysts from likely inclusion in the FTSE 250 index from mid-September, the refinancing of its debt and the resumption of dividend payments.”
GVC has forecast its revenue for 2016 to be €847.5m, which would be an increase of 242%, and GVC said it only requires c.1% year-on-year revenue growth in H2 to meet that projection.
It is predicted by GVC that revenue will reach €1bn for 2019.
PartyPoker was reported in April as achieving its first year-on-year quarterly growth in five years when Q1 2016 figures were released.
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