GVC have announced a Q4 win margin (or player loss margin looking at it from our side) of 13% compared with the long term average of 10%, contributing to a bumper net gaming result of €279.5 million (approx £248m). That will mean net gaming revenue of just over €1 billion for the 2017 calendar year; 13% up on 2016.
I’m sure casino players didn’t hurt the result either!
GVC Share price has been on a tear over the last 6 months…
Revenue growth should be expected from a company that has been growing exponentially from acquisitions, and that growth will continue through 2018 after GVC’s mega-takeover of Ladbrokes Coral takes place.
The £4 billion deal will create one of the world’s largest online gambling businesses; not to mention the largest operator of live dealer tables! Perhaps there will be some streamlining done in this area down the track?
GVC’s CEO Kennny Alexander had this to say about the takeover:
“We have once again demonstrated our ability to integrate significant acquisitions, realise material synergies and at the same time deliver top line growth.”
Their ability to successfully integrate acquisitions has certainly been reflected in their share price over the last 6 months, closing at £9.55 today.