GVC reveals revenue growth ahead of bwin.party merger
GVC Holdings has given a boost to the market ahead of its proposed merger with bwin.party by unveiling year-on-year financial growth during the 12 months to December 31, 2015.
In a trading update, GVC said that net gaming revenue during the period came in at €247.7 million ($269 million), which represents an increase of 10.2% on the €224 million posted in the previous year.
Other key figures from the update include an average daily net gaming revenue volume of €679,000 across its various divisions, with sports wagers up to a daily average of €4.6 million.
Average daily net gaming revenue from sports totalled €317,000, while gaming came in at an average of €362,000 per day.
Publication of the results comes after bwin.party last week also revealed year-on-year revenue growth for the 12-month period in a pre-close trading update.
Kenneth Alexander, chief executive of GVC, said: “With the shareholders of both GVC and bwin.party having voted overwhelmingly for the acquisition of bwin.party on December 15, 2015, and with completion expected on February 1, 2016, and the enlarged GVC Group expected to be admitted to the main market on February 2, 2016, we are enthusiastic to commence the integration of the businesses and to continue to drive shareholder value for investors in the enlarged group.”
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