After reporting full year results for 2013 ahead of market expectations, UK-listed online gaming operator GVC Holdings said Wednesday that it is ready for the next stage in its corporate development and further geographic expansion through organic growth and acquisitions.

Revenue rose 69 per cent to €180.6m for the full 2013 year following the acquisition of Sportingbet's non-Australian business last March, with the company generating more than €1.2bn in sports wagers during the period.

GVC said that the business of Sportingbet was “profoundly indebted, loss-making and cash-burning”, but in the nine and a half months since acquisition, the company has converted these substantial losses into a profit of just under €5m.

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