The international gaming and sports betting company GVC Group revealed that the previously reported stable trading performance has continued through the fourth fiscal quarter of the year. The Group, which is one of the leading gaming operators in the UK to date, announced that its Board of Directors expects its pro forma Net Gaming Revenue (NGR) and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the fiscal year ending on December 31st, 2016 to be at the upper end of the previously published outlook.
The Chief Executive Officer of the company Kenneth Alexander commented on the Group’s positive momentum, saying that it had continued throughout the entire year. According to Mr. Alexander, it came as a result of the employees’ hard work and dedication, as well as of the brands’ strength and the qualitative technologies offered to customers.
The Group’s boss explained that in his opinion, the integration of bwin.party brand was going great, and what is more, it has even surpassed the initial expectations of the company. He said that GVC Holdings’ team was looking forward to the upcoming year, holding on to the belief the company was to mark further success and significant achievements.
What is more, the company’s Board also said that it expects a 49% increase in the special dividend that was previously proposed at the beginning of November.
According to the trading update, published today, the daily net gaming revenue of the Group rose by 12% over the fourth quarter of the current fiscal year, in comparison to the same period a year earlier. The net gaming revenue of the sports operations generated on a daily basis were up by 19%, while the net gaming revenue generated by the gaming and other operations of the Group rose by 8%. The managerial team of the company found the stable performance of the company over the fourth fiscal quarter satisfactory, especially considering the fact that the comparatives from 2015 were pretty tough. December 2015 was announced as the best trading month for the Group.
Currently, GVC Holdings is one of the leading e-gaming operators in both the business-to-business and business-to-consumer markets not only on the territory of the UK, but also on a global scale. It operates through a total of four business segments and owns a number of brands, focused on providing various services to customers.
- Author
Olivia Cole
