Member Article

GVC Reports Rise In 2017 Net Gaming Revenues

GVC Holdings are one of the biggest names in the sports betting and gaming industries. They’ve established themselves as key players thanks to their rapid growth which has seen them take control of some of the planet’s leading brands. They recently acquired Ladbrokes Coral in a mega money takeover, adding to what is already a very impressive portfolio. They’re also key players in the online gaming sector too, with the likes of PartyCasino and Foxy Bingo falling under the GVC umbrella.

The online gaming industry is an area where GVC have been enjoying a lot of success recently, due to its increase in popularity with players. There is a growing trend of spending more time playing online slots and table games, due to the visuals as well as gameplay improving in quality over the last five years or so.

Online gaming has also managed to grow in popularity thanks to smartphones making it a lot more convenient to play. Now players can enjoy their £favourite slot games at PartyCasino via the app on their mobile phone, playing whenever and from wherever they like. The games are still of a great quality on mobile devices too, which makes this the preferred way to play for many.

With that being said, it will come as no surprise to hear that £GVC Holdings posted a 17% year on year boost to revenue from their gaming operation. It’s believed that this was achieved largely because of a strong performance from Bwin. GVC battled for five long months in 2015 as they attempted to secure a deal to buy their main rival, Bwin.party. The £1.1bn deal is now looking like great business, as it’s already paying dividends in terms of revenue.

GVC chief executive, Kenneth Alexander, spoke of how “GVC achieved a significant amount in 2017” and that the numbers demonstrated that GVC had “delivered material value from the bwin.party acquisition.” After the announcement, shares in GVC Holdings which trades on the London Stock Exchange rose by 2.6% to 924.50p.

It wasn’t just in their gaming operation where GVC Holdings say revenues rise. The sports division managed to deliver a 19% increase, with revenues rising to €331.2m. You have to bare in mind here that these revenues rose in the months that followed Euro 2016, which was a great time for the sports betting industry, and makes these results even more impressive. Amounts wagered were also up by 2%.

So, the last twelve months have proved to be very successful for GVC Holdings in terms of revenue. Their acquisition of rivals Bwin is certainly already proving a great deal and they will be hoping that their takeover of Ladbrokes Coral has a similar effect going forward too.

GVC are now not only huge in the online world, but they’re one of the biggest high street sports betting powers around too. It’s expected that this move will see revenues increase once again over the course of 2018, and GVC aren’t done their either. They have also agreed to £buy a 51% controlling stake in Georgia based gaming company Crystalbet.

This was posted in Bdaily's Members' News section by Anouk .