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NEWS 24 May 2016

GVC Holdings continues its “upward momentum” following BwinParty acquisition

By Priscillia Mudiaki
GVC Holdings’ takeover of BwinParty has continued to deliver positive results as the online gaming group revealed in a trading update it has maintained revenue growth in the second quarter of this year.

The enlarged group has kept up its “upward momentum” since the deal was completed in early February, with daily revenue up 15% year-on-year on a constant currency basis and an increase of its average group revenues per day of 11% versus Q2 2015.

The purchase of BwinParty has been key to GVC’s growth in market cap to £1.69bn, which has now surpassed competitors 888 Holdings (£808.2m) and Ladbrokes (£1.32bn), according to Yahoo Finance.

GVC announced on Monday it has signed a ten-year agreement with British bookmaker Betfred to migrate its online sportsbook content to GVC’s platform.

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