BUSINESS

GVC Holdings report results and Genting Casino offers a diamond

TAGs: gentingcasino.com, GVC Holdings

VC Holdings releases resultsGVC Holdings today released their preliminary results for 2010 and saw net gaming revenue (NGR) increase to €54.9million, up 5% from 2009’s figure of €52.1m. This was the only significant piece of good news to report though, as their other figures showed no signs of improvement. Taking off the gloves in their fight with Boss Media contributed to profit before tax dropping from €14m in 2009 to €4.1m last year and the company’s clean EBITDA of €12.2m was significantly less than last year’s figure of €17.7m.

The release also included figures from Q1 2011, with total sports wagers showing a slight increase per day, up from €212k last year to €251k this term, and the record average daily NGR of €172k also represented an increase on last year’s Q1 figure of €157k.

Chief executive Kenneth Alexander commented, “The Board has been encouraged by the improved conditions in the markets in which the Group operates and the Group has made a positive start to 2011.

“Betboo in Latin America and in Emerging Markets has performed more strongly than expected, and the re-structuring of the earn-out should encourage further growth and allow greater investment in Latin America. The building of the Betboo brand outside Latin America will continue in 2011 and the Board expects that this will move into profitability in H2 2012. Our marketing investments in CasinoClub will also continue throughout 2011.”

In other news, online casino site GentingCasino.com has announced that slot players are in with the chance of winning a one-carat diamond.

To enter, players need only take part in one of Genting Casino’s featured slot games, which includes Pink Panther, Electra, X-Men, Rocky, and many more. With every spin players earn points and the player with the most points at the end of the promotion will take home the diamond.

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