GVC Holdings revenue up 13% in Q1 2017

i-brand iGaming operator GVC holdings has reported a 13% spike in its year-on-year daily net group revenue (NGR) for the first quarter of 2017.

In its first trading update of the year, the company confirmed daily net group revenue of €2.67m in comparison to daily NGR figures of €2.37m for the corresponding period in 2016.

GVC sportsbook brands bwin, Sportingbet and Gamebookers reported strong year on year daily NGR growth of 19% during the period.

However, its pure gaming brands FoxyBingo, PartyCasino, PartyPoker, Gioco Digitale and CasinoClub reported slower year-on-year daily NGR growth for the first quarter of 2017, only growing by 4%.

Revenue from sports bets grew 3% from £12.8m in Q1 2016 to £12.9m in Q1 2017, while the gross win margin increased from 8.5% to 9.6% in the first three months of the year.

This contributed to a 13% growth in year-on-year sporting net group revenue for the first quarter of 2017.

In a statement released with the trading update, GVC Holdings CEO Kenneth Alexander said: "I'm delighted at the performance of the Group, with the positive momentum continuing in 2017.

"Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer. However, I'm very confident that the combination of continued enhancements to the customer offering combined with a return to more normalised marketing spend will deliver another year of strong progress at GVC."