GVC reports double-digit growth

GVC, the owner of bwin.party and Sportingbet, has reported a strong performance during Q2 2016, with net gaming revenue per day up by 11% year-on-year to €2.5 million ($2.8 million).

In the three months through to June 30, GVC brands grew by 24% and bwin.party brands grew by 12% pro forma year-on-year on a constant currency basis.

For the first six months of the year, NGR per day grew by 7% on a pro forma basis, and 11% in constant currency. GVC brands grew by 15% and bwin.party brands grew by 9% pro forma year-on-year on a constant currency basis.

Total pro forma NGR during the six months was €439 million, up 8% on 2015. NGR on a reported basis was €388 million, up 223%.

Kenneth Alexander, chief executive of GVC, said: “I am pleased to report that in the first half of 2016 GVC has continued to deliver positive trading momentum.

“Q2 was particularly strong, helped by increasing volumes and favourable sports results during Euro 2016.

“The restructuring of the enlarged group is progressing well with synergy targets being achieved, accompanied by strong underlying growth.

“We are very encouraged by the positive performance to date, however, it is still early days and there is much work to be done, nevertheless, the board remains confident for the remainder of 2016.”

Related article: GVC secures licence approval in New Jersey