GVC releases trading update showing strong revenue growth
The half yearly results show revenues rose from €120 million in 2015 to €388 million euros this year which GVC said follow the acquisition of bwin.party as well as a favourable outcome from the UEFA Euro 2016 tournament in France.
“Following the positive performance reported in Q1, trading in Q2 has been strong with an acceleration in underlying Net Gross Revenue per day growth,” the company said in a statement released this week.
According to GVC, NGR per day in Q2 represented an increase of 11% on the corresponding period in 2015, with growth in constant currency of 16%. The Group benefited from an above average sports margin in the period, 9.9% against 7.9% in Q2-2015, with particularly favourable results during the first half of the Euro 2016 competition.
Furthermore, pro forma sports wagers per day -revenue as if bwin.party digital entertainment plc had been acquired 1 January 2016-, increased by 9% in constant currency over the same period in 2015, the firm said also highlighting that gaming NGR per day grew by 11% on the same basis, helped by improved cross-sell from sports and new casino content.
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