SBC News Voice of the Sports Betting Industry
The governance of FTSE100 GVC Holdings has today published an ‘H1 2018 Post Close Trading Update’ outlining the firm’s enlarged capacity/performance, having completed the acquisition of Ladbrokes Coral last March.
The pro-forma guidance reports ‘positive growth trends’ across its core metrics and KPIs, as the enlarged operator reports a +8% increase in Group NGR during H1 2018.
The enlarged FTSE group details ‘accelerated growth’ across its digital verticals which recorded a 22% NGR increase prior to the commencement of World Cup Russia 2018.
GVC details that its digital brands have been supported by an ‘improved pipeline of new products and high coverage marketing campaigns’.
Digital growth has offset retail declines for the betting group, which reports a -3% NGR across its UK estates, which had been impacted by adverse weather conditions during Q1 2018.
Completing Russia 2018 trading, GVC governance details that the ‘tournament as a whole has been a good one for the group, helped by a better than expected gross win margin but also importantly volumes and value of new customer deposits.
Updating investors, Kenneth Alexander GVC Holdings Group CEO stated:
“I am pleased to report this positive trading update whilst at the same time undertaking the integration of the Ladbrokes Coral business. The strong momentum across the online business has continued and means we are well placed to deliver against our full year expectations.”
At present, the FTSE enterprise expects to publish its audited H1 2018 results in this September (date TBC).
