Trading update and Capital Markets Day

RNS Number : 1734G
GVC Holdings PLC
25 May 2017
 

25 May 2017

GVC Holdings PLC

 ("GVC" or the "Group")

Trading update and Capital Markets Day

GVC Holdings PLC (LSE:GVC), the multinational sports betting and gaming group, is pleased to announce Q1 2017 KPIs and a trading update ahead of its Capital Markets Day.

Key highlights: Q1 2017 vs pro forma1 Q1 2016

·      Group daily NGR up 13% (+14% in constant currency)

·      Sports Brands gross win margin 9.6% (8.5% Q1 2016)

·      Sports Brands daily NGR up 16% (+17% constant currency)

·      Games Brands daily NGR up 4% (+6% in constant currency)

Key highlights: Current trading (Q2 up to 21 May vs 2016 comparable period)

·      Group daily NGR up 16% (+18% in constant currency)

·      Sports gross win margin 10.0% (9.6%)

·      Daily sports wagers +10% (+12% constant currency)

Q1 KPIs

Per day in €000's

Q1-2017

Q1-20161

Change

CC Change


90 days

91 days



Sports brands





Sports wagers

   12,908

         12,866

0%

3%

Sports margin

9.6%

8.5%



Sports NGR

        948

              843

12%

13%

Gaming/other NGR

     1,000

              838

19%

21%

Total NGR

     1,948

           1,680

16%

17%






Games brands

        615

              592

4%

6%

B2B & Non-core

        115

                98

17%

21%






Group daily NGR

     2,678

           2,370

13%

14%

Group NGR (€m)

     241.0

           215.6

12%

13%

 

The Group delivered a strong performance in Q1, with daily NGR up 13% (+14% in constant currency) on pro forma Q1 2016.

Sports Brands continued to deliver strong growth with sports NGR up 12% (+13% constant currency), with the gross win margin of 9.6% an improvement on the 8.5% for the same period in 2016 - despite customer friendly results at the end of March. Meanwhile, daily gaming NGR for Sports Brands grew 19% (+21% in constant currency), reflecting the continued benefits of improved marketing and product, implemented post the acquisition of bwin.party.

Games Brands daily NGR increased 4% (+6% in constant currency) as the division continues to gain momentum. Particularly impressive was the performance of partypoker, which saw a further acceleration in daily NGR.

Current Trading

The positive momentum reported in Q1 has continued into Q2. Group daily NGR is up 16 (+18% in constant currency) for the Q2 period up to 21 May 2017 against the same period in 2016. Sports gross win margin is 10.0% (9.6% in 2016), with wagers +10% (+12% in constant currency).

Capital Markets Day

GVC will today be hosting a Capital Markets Day at which the focus will be to provide an overview of Group's technology & operations and key B2C brands. No material new information will be provided at the Capital Markets Day.

Kenneth Alexander (CEO) said:

"I'm delighted at the performance of the Group, with the positive momentum continuing in 2017. Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer. However, I'm very confident that the combination of continued enhancements to the customer offering combined with a return to more normalised marketing spend will deliver another year of strong progress at GVC."

 

1Assumes bwin.party acquired 1 January 2016

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

- ends -

 

 

For further information:

GVC Holdings PLC


Kenneth Alexander, Chief Executive

Paul Miles, Chief Financial Officer

Nick Batram, Head of Investor Relations & Corporate Strategy

Tel: +44 (0) 1624 652 559   Tel: +44 (0) 20 7337 0100

Tel: +44 (0) 20 7337 0110

 

 

Media enquiries:

Bell Pottinger


David Rydell, Laura Jaques

Tel: +44 (0) 20 3772 2500

 

 

About GVC Holdings PLC

GVC Holdings PLC is a leading e-gaming operator in both B2C and B2B markets.  GVC has four business segments with a number of brands; Sports Brands (bwin, Sportingbet, Gamebookers), Games Brands (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets.  GVC acquired bwin.party digital entertainment plc on 1 February 2016.  The Group is headquartered in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 18 countries.

 

For more information see the Group's website: www.gvc-plc.com 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLFFFIEEISFID

Companies

Entain (ENT)
UK 100

Latest directors dealings