GVC Holdings group gaming revenues up 10% in Q3 2017

ne gaming group GVC Holdings has revealed that its group gaming revenues increased by 10% year-on-year for the third quarter of 2017.

In its latest trading update, the company confirmed that it had amassed net gaming revenues of £243.5m, rising from the £221.5m reported during the third quarter of 2016.

Daily sports wagers taken during the period grew year-on-year by 1% from 11,228 in Q3 2016 to 11,308 during the third quarter of 2017.

Net gaming revenues from sports related brands grew by 3%, while net gaming revenues from gaming related brands jumped by over 19%. Net Revenues across all gaming verticals were boosted by PartyPoker, which reported a net gaming revenue rise of 48% year-on-year during Q3 2017.

GVC has four business segments with a number of brands; its sports brands include: bwin, Sportingbet, and Gamebookers. GVC’s gaming brands include: partypoker, partycasino, Foxy Bingo, Gioco Digitale and CasinoClub.

In a statement accompanying the results GVC Holdings Chief executive Kenneth Alexander said: "Underlying growth in Q3 represents the highest rate achieved since the acquisition of bwin.party in February 2016. The quick wins made in 2016 have been supplemented by further and continuous improvements across all areas of the business.

“GVC operates in an industry with significant opportunities and challenges. The combination of our talented employees, proven technology and strong brands, gives me confidence that we can continue to drive shareholder value."