Strong end to 2014 for GVC following record sports betting turnover12th January 2015 9:12 am GMT
UK-listed online gaming operator GVC Holdings has declared a third interim dividend of 2014 following a strong trading performance which saw net gaming revenue climb 23 per cent to €224.6m during the year.
GVC said that 2014 ended strongly with NGR exceeding €20.3m for the month of December, an increase of 13 per cent compared to the previous year, with a higher sports betting margin of 9.9 per cent (December 2013: 9.1 per cent).
2014 Net Gaming Revenue
|Euros (€) per day||Q4 2013||Q1 2014||Q2 2014||Q3 2014||Q4 2014|
Total NGR for the final quarter of the year was up 22 per cent to €59.4m (€646,000 per day) as sports wagers reached record levels. It is the company’s sixth consecutive quarter of revenue growth.
Sports betting turnover rose 11 per cent to more than €400m, helping sports betting NGR climb 24 per cent to €27.8m (€302,000 per day). Sports betting margin for the quarter amounted to 9.1 per cent, compared to 8.4 per cent a year ago.
GVC’s online gaming offering performed even better, contributing €31.6m in NGR (€344,000 per day) during the quarter, an increase of 21 per cent compared to the same period in 2013.
GVC CEO Kenneth Alexander said that 2014 had been an “exciting and successful” year with the group now in a strong position to further its growth.
“The continued success and growth of the group is a result of the tremendous efforts from the talented and motivated staff we have at GVC, all of which have bonus plans aligned to the level of dividends paid to shareholders,” said Alexander.
As a result of the strong trading performance, GVC’s board has declared its third interim dividend of 12.5 cents per share, an increase of 9 per cent versus a year ago.
The company added that trading for the first eight days of this year as started strongly, with deposits made by customers up 22 per cent to an average of €1.6m per day. Sports wagers rose 10 per cent to an average of €4.0m per day, with an “exceptional” sports margin of 12.8 per cent compared to 9.4 per cent last year. Daily NGR rose 46 per cent to €779,000.
Shares in GVC Holdings plc (Co. Data) (AIM:GVC) were trading up 0.94 per cent at 483.50 pence per share in London earlier Monday.