gvc holdings releases trading update

By Brian Cullingworth, Last updated Mar 5, 2021

Gaming revenues rise in latest report from online gambling group

The Isle of Man-domiciled online gambling group GVC Holdings plc has released its latest trading update, showing total net gaming revenues for the year 2010 up 5.2 percent to Euro 54.8 million.

Sports wagers rose 23 percent to Euro 69.3 million, although the hold was lower at 13.3 percent (2009:16.6 percent) resulting in a 4 percent drop in sports NGR to Euro 8.7 million.

Revenues from gaming for the year rose 7.7 percent to Euro 46 million.

The groups Casino Club brand reported total revenues down at Euro 27 442 000 (2009: Euro 29 434 000), whilst Betaland recorded Euro 55 934 000 (2009: Euro 52 907 000) and a margin of 15.7 percent (2009: 17.7 percent)

Betboo achieved revenues of 13 379 000, well up from the Euro 2 867 000 in the companys launch year.

GVC reports that the top performing quarter of the year was Q4/2010, where sports wagers were 31 percent higher than in Q4/2009, but the hold was substantially lower at 7.3 percent (Q4/2009: 21.6 percent)

Gaming revenues have now returned to the Q4/2009 levels, suggesting greater economic consumer confidence, the report notes.

The results are in line with group expectations, and cash available stands at Euro 5.7 million.

Betboo commenced trading in Malta with a staff of 20 personnel and targeting emerging markets on January 5th this year.

There have been no further developments in the groups litigation with Boss Media, which will next he heard on February 24.

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.


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