Tag Archives: kenneth alexander

Confident GVC ups 2016 special dividend

Updating the market this morning, the governance of FTSE-listed GVC Holdings declared that it expects corporate top line metrics of group net gaming revenues and clean EBITDA to be at the upper end of its FY 2016 forecasts. Issuing a short corporate statement, GVC governance moved to propose a 49% increase in its proposed 2016 special dividend to € 14.9 …

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Why Not? GVC linked to Ladbrokes Coral takeover

The City of London has registered speculation that newly merged Ladbrokes Coral Plc is a potential takeover target of FTSE rival GVC Holdings. Last Friday the Financial Times reported that Ladbrokes Coral shares had gained circa 5% value on the speculation that GVC governance were considering an ambitious reverse takeover of the betting giant valued at a reported £3.2 billion …

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Who Leads? William Hill struggling to find a CEO

The Financial Times has reported that FTSE-listed William Hill is struggling to find a new Chief Executive to officially lead the company following the departure of James Henderson in July. At present, William Hill leadership is being filled by interim-CEO Philip Bowcock, who joined the company last November as CFO from UK cinema chain ‘Cineworld’. The six-month search for Henderson’s …

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GVC benefits from rising margins

Rising sports margins and a slight uplift in wagering turnover helped GVC notch up a 14% constant currency rise on sports net gaming revenue (NGR) per day in the third quarter. The company said the growth trend had continued into October, which saw a 10% constant currency rise in overall NGR per day against what the company described as a …

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GVC poaches Paul Miles from Wonga as company targets 2017 dividend payouts

London FTSE-listed online gambling operator GVC Holdings Plc (GVC) has this morning announced that Group Chief Financial Officer Richard Cooper is set to step down from its board in February 2017. GVC governance informed that Cooper has decided to leave the company in order to ‘pursue private business interests’. The operator has found a direct replacement for Cooper, confirming that …

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GVC Holdings secures Romania ONJN licences

Updating the market, FTSE-listed GVC Holdings (GVC) has confirmed that it has secured a Romanian National Gaming Office (ONJN) allowing it to operate sports betting and casino services for the regulated Romanian online gambling market. Its secured licence will be set for an initial period of 10-years, with GVC promoting Romanian online gambling services through its subsidiary brand Sportingbet. GVC governance …

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GVC Holdings saves €43 million with Nomura refinancing deal

Updating the market this morning, FTSE-listed betting operator GVC Holdings (GVC) has informed investors that it has agreed a refinancing deal with Japanese corporate bank Nomura International Plc. GVC governance has secured a €250 million unsecured loan with Nomura, which will be used to facilitate its existing €400 million long-term loan issued by Cerberus Business Finance. The operator had entered …

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No BREXIT fears as GVC Holdings posts strong H1 2016 performance

GVC Holdings (GVC) this morning published its half-year trading results (period ending 30 June), detailing a strong H1 performance for both GVC and acquired bwin.party brands which achieved double-digit growth on a constant currency basis. Updating the market, GVC detailed that pro-forma Net Gaming Revenues (NGR) had reached €439 million, up 8% (H1-2015: €407 million). Detailing individual brand performance, GVC …

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DGE grants GVC continued PartyGaming New Jersey licence

Updating the market, FTSE-listed online gambling operator GVC Holdings has announced that it has received a licence approval by the New Jersey Division of Gaming Enforcement (DGE) to operate its online gambling services within the state. The approval will see GVC Holdings maintain the New Jersey online poker and casino services of subsidiary PartyGaming which has operated in the regulated …

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GVC the ‘Dark Horse’ of betting as company value hits £2 billion

The Financial Times has labelled FTSE-listed online betting operator GVC Holdings (GVC) the gambling industry’s ‘Dark Horse’ as its corporate value hits the £2 billion mark. Since its £1.1 billion takeover of bwin.party Entertainment (deal completed February), GVC’s growth rate has surpassed competitors 888 Holdings and Ladbrokes Plc.    Its takeover of bwin.party assets has transformed the company, which according …

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