GVC REVENUES UP
05th July, 2012 at 03:57:32
Latest trading update to gambling services provider shows improvements
GVC Holdings plc, a provider of B2B and B2C services in the gambling sector, has issued a trading update for the six months trading to 30 June 2012.
Gross revenues across the group for the period increased 147% to Euro 270,000 per day (H1-2011: Euro 110,000 per day).
The company's B2B division saw significant growth from November 2011 after it entered into a service agreement with East Pioneer Corporation BV to provide back office services following that company's acquisition of the Turkish Superbahis brand from Sportingbet
Underlying sports wagers amounted to Euro 1.3 million per day (H1-2011: Euro 80,000 per day), and a gross sports margin of 11.8% was achieved on this (H1-2011: 8 percent). Turnover reached an average of Euro 164,000 per day (H1-2011: Euro 8,000 per day).
Gross revenues in the B2C division rose 4% to Euro 106,000 per day (H1-2011: Euro 102,000 per day). Sports wagers rose 146% to an average of Euro 119,000 per day (H1-2011: Euro 49,000 per day), although the margin was softer at 8.1% (H1-2011: 10.9 percent).
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