GVC scores despite quiet sports calendar
GVC Holdings saw double-digit year-on-year growth in net gaming revenue during the third quarter.
In a trading update, the gaming operator - which owns Bwin, PartyPoker, Foxy Bingo and Sportingbet – said group daily NGR was €2.7m ($3.2m), up 10% compared to 2016 and a rise of 13% at constant currency.
GVC said the figure was “particularly pleasing” as the corresponding period last year was boosted by the final stages of the Uefa Euro 2016 football tournament. Its underlying NGR, which strips out the impact of Euro 2016 and Kalixa, which was disposed of in May 2017, was up 18% and 21% in constant currency.
Daily sports wagers were up 4% in constant currency, while underlying wager growth in constant currency was 8%. Within the games brands division, net gaming revenues were up by 15%, boosted by a 48% increase at partypoker, the online poker site.
Chief executive Kenneth Alexander said: "Underlying growth in Q3 represents the highest rate achieved since the acquisition of bwin.party in February 2016.
“The quick wins made in 2016 have been supplemented by further and continuous improvements across all areas of the business. GVC operates in an industry with significant opportunities and challenges.
“The combination of our talented employees, proven technology and strong brands, gives me confidence that we can continue to drive shareholder value."
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