Strong Year End For Gvc In Trading Update

Annual net gaming revenue increase of 24 percent

Internet gaming firm GVC Holdings PLC delivered a rewarding unaudited trading update for the year ending December 31, 2014 Monday.

Unaudited key performance highlights for its Q4/2014 period ending December 31, 204 include:

– Net Gaming Revenue for the month of December 2014 exceeded Euro 20.3 million, 17 percent up on the same period 2013.

– Q4/2014 Net Gaming Revenue came in at Euro 59.4 million, 22 percent up on Q4/2013.

– Sports wagers exceeded Euro 400 million during Q4/2014, an all time high for the firm which equated to an 11 percent increase on Q4/2013 and a 9 percent increase on Q3/2014.

– Sports margin of 9.1 percent (Q4/2013: 8.4 percent)

– Net Gaming Revenue for the year was Euro 224.6 million, up 23 percent on 2013 with sports margins of 9.8 percent.

GVC confirmed a strong start to 2015 with exceptional sports margins leading to a third interim dividend of 12.5 €cents per share, an increase of 8.7 percent on 2014 (11.5€cents).

Deposits in the first eight days of 2015 compared to the same period last year have grown 22 percent, sports wagers 9.7 percent and produced a sports margin of 12.8 percent.

Net Gaming Revenue amounts to Euro 779 000 compared to Euro 534 000 in the first eight days of 2014.

Kenneth Alexander, Chief Executive of GVC Holdings plc, said in a company statement: "2014 has been an exciting and successful year with the Group now in a strong position to further its growth.

"The continued success and growth of the Group is a result of the tremendous efforts from the talented and motivated staff we have at GVC, all of which have bonus plans aligned to the level of dividends paid to shareholders."

Online Casino News Courtesy of Infopowa

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