Online gambling group GVC Holdings plc has posted its trading update for Q4-2017, showing good growth and with the following highlights:
* Total Net Gaming Revenue up 21 percent year-on-year at Euro 279.5 million – the highest since GVC acquired Bwin in February 2016;
* The Q4 results bring NGR for the year to around Euro 1,009 million, a y-o-y increase of 13 percent;
* Sports daily NGR up 35 percent y-o-y at Euro 1.20 million during the fourth quarter on a 13.1 percent sports margin (vs. 9.7 pc in 2016);
* Daily group net gaming revenues of Euro 2.2 million up 24 percent on corresponding Q4 2016;
* Gaming Brands daily NGR increased 22 percent to Euro 677,000;
* Active corporate initiatives saw the company divest its Turkish operation for Euro 150 million in November, and commence the Euro 3.4 billion acquisition oif Ladbrokes Coral in in December;
* The Board expects Clean EBITDA for the period to be at the top end of management's internal expectations;
* Daily NGR for the fourth quarter increased by 21 percent;
* All verticals delivered a solid performance, with PartyPoker maintaining impressive growth. B2B and non-core revenues grew by an underlying 4 percent, adjusting for Kalixa which was sold in the first half of 2017;.
Kenneth Alexander (CEO) said:
“I'm delighted to report another strong year for the Group with underlying NGR growth of 18 percent, reflecting the strength of our brands, technology and the hard work of our talented people. We have once again demonstrated our ability to integrate significant acquisitions, realise material synergies and at the same time deliver top line growth.
“The recommended transaction with Ladbrokes Coral Group presents an exciting opportunity for both sets of shareholders, creating a global gaming group with a portfolio of strong brands across all major regulated online markets, together with proprietary technology and proven management.”