World Cup Boosts Gvc Holdings

WORLD CUP BOOSTS GVC HOLDINGS

22nd September, 2014 at 05:16:17
Source: http://www.azonlinecasinos.com

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% to Euro 694 million (H1/2013: Euro 502 million)

- Sports margin 9.9% (H1/2013: 10.3 percent)

- Net Gaming Revenue ("NGR") up 44% to Euro 105 million (H1/2013: Euro 73 million)

- Contribution up 25% to Euro 57 million (H1-2013: Euro 46 million)

- Clean EBITDA up 26% to Euro 22.4 million (H1/2013: Euro 17.8 million)

- Active customers up 22% on prior year

- 56 000 New depositing customers, up 30 percent.

- Deposits up 22% on Q3/2013.

- In-play generated 70% of sports gross margin.

- Mobile generated 22% 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% compared to the same quarter last year.

Cumulative dividends payable in calendar year 2014 are 55 cents (Euro), up 96% over the prior year.

The company reports a strong start to Q3/2014, saying trading per day at Euro 628 000 is 20% 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."

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