GVC Posts Quarter-On-Quarter Revenue Increase

Online casino and sportsbook operator GVC Holdings said that it is “confident” of future growth after recording an increase in revenue during the three months to the end of December 2013.

The firm posted revenue of €48.9 million ($66.5 million) in the fourth quarter of last year, an increase on the €47.5 million achieved in the third quarter.

The quarterly increase was triggered by a rise in daily revenue, which grew by 3% from €516,000 in Q3 to €531,000 in the fourth quarter.

The fourth quarter results fell just short of its figures for the second quarter of 2013, in which GVC posted daily revenue of €539,000 and quarterly revenue of €49 million.

GVC finished the year with a total turnover of €168.7 million.

As a result of the yearly results, GVC has announced a third interim dividend increased to €11.5 cents per share payable on February 3 to shareholders on the register on January 24.

GVC now anticipates declaring a final dividend for the year ended December 31 and a release of its preliminary results in the week commencing April 7.

“The board is pleased to be able to present excellent figures for 2013 and to continue to reward our shareholders with an increased dividend,” GVC chief executive officer Kenneth Alexander said.

“The board’s confidence in the future growth of the group is demonstrated by our ongoing progressive dividend policy, and we look forward to providing a full update at the time of the preliminary results in April.”

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