The multinational sports betting and gaming group, GVC Holdings plc has released a trading update on its Q3-2017 key performance indicators, reporting the following highlights:
* Group daily NGR up 10 percent (+13 percent constant currency) year-on-year at Euro 2,647,000;
* Underlying daily NGR up 18 percent (+21 percent constant currency); includes stripping out Euro 2016 and Kalixa;
* Sports Brands daily NGR up 11 percent (+14 percent constant currency) at Euro 1,967,000; win margin for the period was 11.2 percent;
* Games Brands daily NGR up 15 percent (+17 percent in constant currency) at Euro 612,000; Partypoker NGR grew 48 percent year on year, continuing to benefit from product improvement and increased marketing investment. Casino brands NGR also grew in Q3, whilst bingo returned to underlying growth during the period. The decline in B2B and non-core reflects the disposal of Kalixa in May 2017;
* The Group has also enjoyed a strong start to Q4.
Chief executive officer Kenneth Alexander reported:
“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.”