BUSINESS

GVC Holdings confident of hitting target; Boylesports committed to Ireland HQ

TAGs: Boylesports, Gibraltar, GVC Holdings

Sports betting and gaming group GVC Holdings PLC said that it is confident of hitting its raised market expectations given its strong Q4 2014 results.

GVC Holdings is the controlling company of sports betting and igaming brands Sportingbet, Betboo and Casino Club.

GVC Holdings confident of hitting target; Boylesports committed to Ireland HQThe operator has seen 12% revenue improvement to €217 million in the year to date compared to Q4 2013, placing their performance ahead of corporate expectations for 2014.

GVC reported €660,000 in daily average gaming revenues, a 26% sequential gain, driven by increased player activity as GVC maintained product performance from a strong 2014 FIFA World Cup.

Mobile gaming averaged €168,000 in daily revenues, a 150% improvement year-on-year.

Wagering margin fell to 9% from 10.5% in the same period last year.

“It is the Board’s intention to capitalize on its recent successes by maintaining its quarterly dividend policy whilst continuing to invest in product and business development. This positive outlook is set against a background that includes the commencement of the UK Point of Consumption tax and the fact that 2015 does not include a major sporting event on the scale of the World Cup. The Board views the future with confidence,” the company said in a press release.

Boylesports is 100% committed to Dundalk HQ

Founder of Independent bookmaker Boylesports, John Boyle, has stated to the Irish Independent that there won’t be a large effect at its Dundalk HQ as the company migrates its igaming operations to Gibraltar.

Boylesports is Ireland’s largest independent bookmaker and employs around 250 people in Dundalk. The move to Gibraltar, a place seen as a more online operator friendly location, means that one or two Dundalk staffers will move to the British-controlled Spanish territory, some will be redeployed and ‘a very small number’ will be made redundant.

“There is not going to be a large effect in Dundalk as a result of this move. There will be no effect on operations. Previously, Boylesports ran its e-gaming and online services from the Isle of Man and the Channel Islands and we are now consolidating these in Gibraltar. There will be a handful of staff heading there from London and a handful of people are affected in Dundalk. Some will move to Gibraltar and some will get other positions within the company in Dundalk,” a company spokesperson said.

“There will be a very small number of redundancies. Boylesports is a growing company and overall numbers are larger in Dundalk and it is expected that there will be around 20 people employed in Gibraltar,” Boyle said. “Boylesports is 100% committed to Dundalk. As a growing international company, we can make changes that have an effect on headquarters. We remain completely committed to Dundalk, I can’t imagine it being otherwise.”

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