GVC Holdings PLC (LSE:GVC), a leading e-gaming operator in both B2C and B2B markets, is pleased to announce the following trading update ahead of its Annual General Meeting which is being held today at 11.00 hours BST in the Isle of Man, the country of its incorporation
Trading at the enlarged GVC Group continues its upward momentum since it acquired bwin.party on 1st February. Average Group pro forma revenues per day in Q2 are currently 11% higher than the corresponding period in Q2-2015; and 15% higher on a constant currency basis.
Kenneth Alexander, CEO said:
"I am delighted to be able to report a continuation of the strong trading performance previously announced at the time of our final results on April 25th. It is pleasing to see that our strategy to reinvigorate growth at bwin.party is delivering positive early results, which is in part a reflection of the high quality people within the enlarged Group. This, together with the transformational B2B deal with Betfred, that we announced yesterday, gives me confidence that we can deliver significant value to our shareholders. In addition, the plan to seek a transfer to the Premium Segment of the Official List is progressing and we anticipate making further announcements on this in due course."
For further information:
|GVC Holdings PLC|
|Kenneth Alexander, Chief Executive||Tel: +44 (0) 1624 652 559|
|Richard Cooper, Group Finance Director||Tel: +44 (0) 20 7337 0110|
|Nick Batram, Head of Investor Relations & Corporate Strategy||www.gvc-plc.com|
|Cenkos Securities plc||Tel: +44 (0) 20 7397 8900|
|Mark Connelly, Stephen Keys, Camilla Hume|
|Bell Pottinger||Tel: +44 (0) 20 3772 2500|
|David Rydell, James Newman, Anna Legge, Laura Jaques|
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both B2C and B2B markets. GVC has four main product verticals with a number of brands; Sports labels (bwin, sportingbet, gamebookers), Gaming labels (partypoker, partycasino, Foxy Bingo, Giocco Digitale, CasinoClub), B2B and non-core assets. GVC acquired bwin.party digital entertainment plc on 1 February 2016. The Group is headquartered in the Isle of Man and has licences in over 14 countries.