GVC’s Online Operations Show Excellent Financial Performance

As GVC issued a trading update for the year to December 31, 2019, their operations show excellent financial performance, with online operations leading the way.

The gambling giant and one of the leading companies in the iGaming industry expects growth in the online division that will sur the success of 2019. The trading update for 2019 shows that the net gaming revenue is strong with a 9 per cent growth across all major territories. The company attributes the growth to an increasing number of sports wagers.

Driven Performance

Representatives from GVC, which recently relocated its tax residence, say that the performance of the company continues to be driven by their industry-leading solutions and expert employees.

Chief executive, Kenneth Alexander, said: “The group’s operational and financial performance in 2019 has been excellent with the strong momentum reported at Q3 continuing throughout Q4.

“The performance continues to be driven by our industry-leading technology, products, brands, marketing capability, people and local execution, all of which is underpinned by our determination to spearhead the industry’s approach to responsible gaming.”

“As the group continues to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports betting t-venture in the US, the board is confident that the group is well placed for a successful 2020.”

One of GVC’s brands, Eurobet, experienced a particularly strong performance. The brand saw seven per cent increase in wagers placed. However, the gross win margin was said to be partly offset due to temporary disruption in Belgium’s virtual offering.

More About the Company

GVC Holdings PLC is a gambling and online gambling operator that operates in both B2C and B2B markets. It is one of the world’s largest sports-betting and gaming groups and it is licensed in over 20 jurisdictions and has a current workforce of more than 25,000 experts in 20 offices across five continents.

The company is a member of FTSE 250. GVC offers a highly scalable and robust platform, proprietary sportsbook, casino, poker and bingo software. The Group owns a wide portfolio of well-established brands. Their sports brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds International and Sportingbet.

As far as games brands go, the Group owns CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group holds ownerships for proprietary technology across all of its core product verticals and aside from their B2C operations they provide services to third-party customers on a B2B basis.

Source:

“GVC expects strong full year results following online growth”, Erin-Marie Gallagher, sbcnews.co.uk, January 17, 2020