GVC shows growth in impressive interim report

Holding PLC has announced its half-year interim results for the six months ending 30 June 2017, showing Net Gaming Revenue (NGR) increasing by 10% in comparison to the same period last year. The successful results have encouraged the company to continue their strategy of expansion into emerging markets.

Following the success of the report, GVC’s focus is to expand further into markets where they have identified opportunities for expansion as well as looking to "explore new fast growing markets, both in terms of products and geography".

Kenneth Alexander, CEO, said: “I am delighted with the strong progress across the group, which has continued to exceed our expectations since last year’s acquisition of bwin.party. A combination of high quality talent, proprietary technology and proven brands are key components driving the business forward. Scale and geographic diversification are increasingly important as the regulatory environment evolves and competition increases."

The group's total NGR reached €486.2m, with the 10% increase from the same period last year being particularly impressive considering that the Euro 206 tournament took place in summer 2016, causing a huge spike in sports betting revenue. The company’s regular revenue also rose to €472.8m resulting in a 9% improvement.

Alexander added: “The strong performance of the business together with the smooth integration of bwin.party continues to present exciting organic growth opportunities. In addition, given its proven track record of creating shareholder value, GVC remains well positioned to continue to play a pivotal role in the industry’s consolidation, should the right opportunities arise.”

GVC have also managed to improve their EBITDA, with the total clean figure now standing at an impressive €133.9m, with adjusted profits before tax nearly doubling from €51.3m to €101.9m.

GVC are an online and land-based gaming operator based on the Isle of Man, and specialise in business-to-consumer and business-to-markets.