GVC reports steady H1 revenue growth; FOBT stake cut less impactful than expected

GVC Holdings generated net gaming revenue (NGR) of £1.8bn ($2.18bn) for H1, a 61% increase year-on-year in reported group revenue and a 6% rise in pro forma revenue.

GVC Holdings up

Gross profit was £1.1bn, a 55% rise in reported results (which do not include that of Ladbrokes Coral, which was acquired in March 2018) and a 2% pro forma rise.

Underlying EBITDAR for H1 was £376.8m, an increase of 47% reported but 7% fall pro forma.

In its first financial report since maximum stakes for fixed-odds betting terminals (FOBTs) in the UK dropped from £100 to £2, the operator said it was ahead of expectations and only experienced a 10% decrease in UK retail NGR.

Kenny Alexander, GVC CEO, said: "Our online operating model is proving highly effective, building on the sustainable competitive advantages of our wholly owned technology platform, leading product, cutting-edge marketing, leading brands and local execution.

"In UK retail, efficient execution of mitigation plans resulted in a Triennial Review impact that was better than initial expectations, with like-for-like NGR 10% behind last year, prompting a further upgrade to our Triennial Review EBITDA guidance."

The CEO said GVC’s joint venture with MGM Resorts International, Roar Digital, remains on track for a September launch in New Jersey and highlighted GVC’s responsible gaming commitments made in the first half of the year.

GVC's share price has risen around 15% in light of its trading update, to £5.62.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
 
Premium Connections
Consultancy
Executive Profiles
Aristocrat Gaming
Resorts World Las Vegas
Star Sports Group
GGA: EMEA 2025 Shortlist
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...