GVC Holdings, the London-listed online sports betting and gambling company, announced today the strong trading performance it had previously reported is expected to continue throughout Q4 of 2016. The company’s Board of Directors expects pro-forma net gaming revenue for the three-month period ending in December and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to be at the upper end of the forecasts since GVC’s strong trading has continued into the year’s final quarter.
According to the pro-forma results released by the company, GVC will accumulate a net gaming revenue ranging from €852 million to €885 million. The company’s earnings before interest, taxes, depreciation and amortisation are expected to range between €202 million and €205.5 million.
The combination of strong cash generation and the positive momentum across the business enabled GVC’s Board of Directors to confidently announce a 49% jump in the special dividend the company announced at the beginning of last month.
The gambling company’s governance had the confidence to increase the proposed special dividend that was announced on November 3, 2016, from €0.10 to €0.149.The dividend payment settled in sterling was fixed at €0.125 per share.
According to GVC’s report for the final quarter period up to December 12, 2016, the company’s group daily net gaming revenue increased by 12% (plus 14% constant currency) against that for the same period of time in 2015. Sports daily net gaming revenue jumped by 19%, while that of gaming/other daily increased by 8%. GVC reported they were pleased with their excellent growing momentum in the final quarter of the year, particularly in December, as this was the strongest trading month for the company in 2015.
Kenneth Alexander, Chief Executive of the Group, attributed the growing momentum GVC succeeded to build throughout the year to its employees’ hard work, the quality of the company’s technology and the strength of its brands.
As of February 1, 2016, bwin.party officially became a member of the GVC family. Alexander continued to say GVC’s integration of bwin.party was not only proceeding positively but was even ahead of the Group’s original high expectations. The Chief Executive concluded by saying GVC is looking forward to 2017 with confidence and expects further significant progress.
GVC Holdings is a among the key online gaming operators in the industry. The company is head-quartered on the Isle of Man and has obtained licenses to operate in over fifteen different countries.
