GVC Reports Record Quarter

January 11, 2018 3:13 PM
  • CDC Gaming Reports
January 11, 2018 3:13 PM
  • CDC Gaming Reports

In large part thanks to their agreement, made late last year, to take over Ladbrokes Coral, the multinational GVC Holdings has seen a record-breaking quarter of profits to close out 2017, the best since their acquisition of bwin (formerly bet and win) back in February 2016.

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GVC Holdings announced a net gain in revenue of around €279 million across the fourth quarter, enough to put them at just over a billion euros net gain across the year, some 13% ahead of their performance in 2016. This performance is understood to have been at the very top end of management’s expectations.

Despite uncertainty over the government review of fixed odds betting terminals’ stakes, and its potential impact on Ladbrokes, the takeover is widely regarded as a major boost to GVC’s outlook. Barclays Bank gave their backing to the deal at the turn of the year, stating that they felt it was a positive because of greater scalability, the potential for high growth due to synergising costs, and improving the geographical spread of GVC Holdings’ interests. The firm was further benefited by a number of very good sporting outcomes across the end of the year.

Both GVC and Ladbrokes shareholders must be feeling pretty good about prospects for the year ahead – especially the latter group.