Confident on full year prospects
Gaming and sports betting group GVC Holdings PLC delivered strong Interim Results for the six months ending June 30 2014 reflected by a special dividend in addition to its quarterly dividend.
Key performance highlights include:
– Wagers up 38 percent to Euro 694 million (H1/2013: Euro 502 million)
– Sports margin 9.9 percent (H1/2013: 10.3 percent)
– Net Gaming Revenue ("NGR") up 44 percent to Euro 105 million (H1/2013: Euro 73 million)
– Contribution up 25 percent to Euro 57 million (H1-2013: Euro 46 million)
– Clean EBITDA up 26 percent to Euro 22.4 million (H1/2013: Euro 17.8 million)
– Active customers up 22 percent on prior year
– 56 000 New depositing customers, up 30 percent.
– Deposits up 22 percent on Q3/2013.
– In-play generated 70 percent of sports gross margin.
– Mobile generated 22 percent of sportsbook revenues.
GVC Holdings' shareholders will receive a quarterly dividend of 12.5 cents (Euro) and an additional special dividend of 2.5 cents (Euro), bringing the total quarterly dividend to 15 cents (Euro), up 43 percent compared to the same quarter last year.
Cumulative dividends payable in calendar year 2014 are 55 cents (Euro), up 96 percent over the prior year.
The company reports a strong start to Q3/2014, saying trading per day at Euro 628 000 is 20 percent higher than the same period last year.
Commenting on the results, Kenneth Alexander, Chief Executive of GVC Holdings plc, said: "GVC operates in numerous markets in both casino and sports betting and as a group is well diversified and highly cash generative.
"GVC is now in a very strong position with exciting growth prospects as we continue to develop our market leading in-house sportsbook and mobile platform. The Group remains highly confident for the outcome of this current financial year and this confidence is reflected in the enhanced dividend that we have announced today."
Online Casino News Courtesy of Infopowa