Ahead of its Capital Markets Day, FTSE-listed online gambling group GVC Holdings Plc (GVC) has announced a strong start to its 2017 trading, reporting growth across its core metrics.
Powered by the strong momentum of its sports betting assets which saw an average of daily wagering of €12 million, GVC would report a 13% year-on-year rise in Q1 2017 new gaming revenues of €241 million (Q1 2016: €215 million).
The FTSE firm would detail that it would have recorded a stronger period NGR, had its sports betting division not been impacted by ‘customer friendly results’ at the end of March.
Updating the market, GVC governance would detail that its strong opening was testament of the firm’s ongoing strategy post the acquisition of bwin.party Entertainment, with the firm improving market and product of sportsbook Bwin.com.
GVC governance further detailed the positive performance of its gaming products, which had seen 4% increase in daily NGR, with the company highlighting PartyPoker as an impressive performer amongst its igaming brand portfolio.
Commenting on the firm’s Q1 2017 opening performance GVC Holdings CEO Kenneth Alexander stated:
“I’m delighted at the performance of the Group, with the positive momentum continuing in 2017. Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer.
I’m very confident that the combination of continued enhancements to the customer offering combined with a return to more normalized marketing spend will deliver another year of strong progress at GVC.”
GVC Q1 2017 Performance Overview
Source: SBC News
