Gvc Holdings Reports Good H1 Progress

Management expects to play a leading role in industry consolidation

GVC Holdings plc, still embroiled in the fight to buy Bwin-Party, issued its H1-2015 results Friday, commenting that it intends to play a key role in the consolidation phase the online gambling industry is currently experiencing.
Highlights from the report include:
* Wagers – up 18.6 percent to Euro 824 million (H1-2014: Euro 694 million);
* Sports Gross Margin down at 8.8 percent (H1-2014: 9.9 percent);
* Net Gaming Revenue up 15.1 percent to Euro 121 million (H1-2014: Euro 105 million);
* Contribution up 15.3 percent to Euro 65 million (H1-2014: Euro 57 million);
* Clean EBITDA up 14 percent to Euro 25.5 million (H1-2014: Euro 22.4 million);
* Deposit values up 18 percent on H1-2014;
* In-play betting generating 73 percent of Sports Gross Margin (H1-2014: 63 percent);
* Mobile generating 38 percent of Sports Gross Gaming Revenue (H1-2014: 22 percent);
* Adjusted, diluted Earnings Per Share – growth of 25 percent to 33.3 Euro cents;
CEO Kenneth Alexander, said the company continues to show strong financial performance, with growth in revenue, clean EBITDA and dividends.
"With our track record of delivering value through organic growth and acquisitions we are determined that GVC will play an important role in the continuing consolidation of the online gaming sector. We expect to update the market soon about our discussions with bwin.party digital entertainment plc," he said.

Online Casino News Courtesy of Infopowa