GVC Holding Up ‘Extremely Well’ In Fourth Quarter

Online casino and sportsbook operator GVC Holdings said that its trading during the first two months in the fourth quarter of 2013 held up “extremely well” despite industry rivals having reported poor performances.

A number of companies have highlighted unfavourable sports results as a reason for a decline in sportsbetting activities.

However, although GVC posted a sports margin of 8.2% for the first months of the fourth quarter, down on the 9.4% recorded in the third quarter, it was able to register growth elsewhere.

GVC said that average wagers per day increased to €4 million ($5.4 million) in the first two months of Q4, a rise of 23% on the third quarter and 12% up on the corresponding two-month period last year on a like-for-like basis.

In addition, average daily bet gaming revenue for the first two months of the fourth quarter grew to €536,000 per day, a 4% increase on the €516,000 recorded in the third quarter of 2013.

In a statement, GVC said that it expects the group’s full-year results to be at the “upper end” of analysts’ current expectations.

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