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GVC Likes What It Sees for Q4Published February 15, 2017 by Lee R
A big acquisition for 2016 contributed to robust performance of late and resilience for the coming months.
GVC 2016 Q4 figures revealed pleasing results.
Q4 Exclamation Point
Ahead of its full year results to be posted March 23, the Isle of Man-headquartered online gambling operator and B2B service supplier reported daily net revenue of €2.5 million for Q4, bringing overall net revenue to a total of €231.3 million for a 7% increase year-on-year.
The largest daily gain leader was sports net revenue with a 5% increase in daily growth rate to reach €904,000. This momentum was spurred by a 3% jump in sports wagers, and brought the average amount of waves per day for Q4 to €12.8 million.
Other Vertical Performance
Other strong verticals included sports margin, which reached 9.6% during the period; and daily net revenue from gaming operations, whose €1.6 million represented a 9% jump from the Q4 2015.
Sports Holds Well
The sports results flew in the face of the overall market for the period, and GVC looks forward in light of this resilience to the publish of its full-year results in late March, in expectation of what it claims will be a strong full-year revenue total in the neighbourhood of €894 million for an increase of 9% from the prior year.
GVC CEO Kenneth Alexander further emphasized that the positive trading momentum of Q4 has extended into the first month of 2017 with daily net revenue increasing 23% year-on-year for January.
Big Acquisition Boost
Alexander further reminded of the substantial boost to be reflected in this year’s full totals as a result of its acquisition of online gaming operator bwin.party, with the GVC head anticipating some €125 million in synergies by the end of 2017 as a result of said deal.
Increasing Share Value
Alexander reflected on the recent surge in performance as an organizational accomplishment that was the product of a lot hard work to increase shareholder value.
As for the future, Alexander says the organizational will focus on its global strategy for further expansion seeking expansion, to be driven by the dual operating priorities of high performance teamwork and high end technology.