World Cup Boosts GVC Q3 Results

October 22, 2018 by

GVC Holdings has seen a 28% growth in their net gaming revenue as of the end of Q3 2018, which includes a 31% increase in their sports brands.

The operator experienced the growth across all of their markets, and the figures for Q3 were increased largely by the World Cup. NGR was reported as being 30% ahead in Germany, 14% in Italy, and Brazil has seen growth of around 13%.

Kenny Alexander, CEO of GVC, has said that their performance in the last quarter has been pleasing, and it’s continuing across both their European and Online retailers. He also explained that they will be looking to consolidate their position in the markets where they are absorbing market share through reinvestment of excess returns, and that they are confident in the end-of-year results.

GVC has also completed a venture with MGM that is set to place them as the leaders in the US market, and that they recently took the first steps in launching their sports betting app in the state of New Jersey.

The new venture is a market access agreement with the United Auburn Indian Community that gives GVC a route into the Californian market if the state decides to legalise sports betting in the future. GVC has also announced the leaving of Paul Bowtell, who was the CFO for a number of years. Bowtell is set to be replaced by Rob Wood.

Bowtell has worked in the role of CFO at Gala Coral, Ladbrokes Coral, and GVC.

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