GVC hails 10% revenue growth in first half

GVC has announced a 10% year-on-year jump in net gaming revenue (NGR) for the six months to June 30, 2017.

Group NGR in the first half of the year came in at €484.4m ($549.8m), compared to €441.8m in the corresponding period in 2016, while group NGR per day rose by 10% to €2.7m.

Sports NGR per day in the first half stood at €947,000, up 5% on last year, while gaming daily NGR jumped 17% to just over €1m.

GVC also noted that its gaming brands NGR per day improved by 8% to €616,000, with B2B and non-core posting daily NGR of €100,000, up by 4% on the same period last year.

Kenneth Alexander, chief executive of GVC, said: “The group continues to perform well with positive momentum across our core businesses.

“Achieving Q2 constant currency NGR growth of 10% in the absence of a major football tournament is particularly pleasing.

“As demonstrated at our recent Capital Markets Day, the organic opportunity is significant, whilst we are also well positioned to pursue further acquisition opportunities should they arise.

“This combined with an increase in marketing investment in the second half to more normalised levels gives the Board confidence of GVC delivering another year of strong progress.”

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