UK-listed online gambling operator GVC Holdings says its full-year revenue rose more than 10% in 2015.
On Monday, GVC issued a trading update covering the 12 months ending Dec. 31, 2015, during which net gaming revenue rose 10.2% to €247.7m, averaging €679k per day. Full results for 2015 won’t be released until April.
GVC also broke down key performance indicators for its Q4 2015 period, which showed overall revenue of €712k per day, up 10% year-on-year and up 21.3% on a constant currency basis.
Most of the growth came from GVC’s gaming vertical, which reported average daily revenue of €392, up 13.9% year-on-year. Sports betting revenue rose a more modest 5.6% to €320k per day, while betting handle rose 13.6% to €4.96m per day – completing the streak of consecutive quarter-on-quarter improvements throughout 2015. Sports margins were essentially flat at 9.1%.
This marks the final year in which GVC will report figures that don’t include contributions from Bwin.party digital entertainment, which GVC struck a deal to acquire in September. Both companies’ shareholders have since approved the deal, and the transaction is expected to conclude on Feb. 1.
In a statement accompanying the update, GVC CEO Kenneth Alexander thanked staff for kicking ass and making sure 2015 “ended very positively” for the company. Alexander said the enlarged AIM-listed company expected to be admitted to the London Stock Exchange’s main market on Feb. 2.
Bwin.party turned in its own trading update last week, showing Q4 revenue rising 5% year-on-year. Alexander said the companies were “enthusiastic” about proceeding with the integration of their businesses, a sentiment that will be applauded by shareholders but feared by employees, many of which will be hitting the bricks in order to realize the €125m in promised ‘synergies.’
