UK-listed online gambling operator GVC Holdings performed above and beyond expectations in 2017, thanks to a record Q4 result.
On Thursday, GVC issued a trading update covering its Q4 and FY17 results, which saw the company post double-digit gains in both sports and gaming brand revenue. Net daily revenue in Q4 totaled €279.5m, up 21% over Q4 2016 and the highest quarterly total since the company acquired the Bwin.party operations a couple years back.
GVC’s Q4 daily sports revenue was up 35% (40% in constant currency terms) to €1.2m as margins improved 3.4 points to a hefty 13.1%. The gains came despite betting handle falling 11% year-on-year, which the company said was “predominantly” due to the November sale of its Turkish-facing operations.
Despite keeping so much of its punters’ money, the sports brands’ gaming/other revenue shot up 14% to just under €1.1m, thanks to “improved product and cross-sell.” GVC’s dedicated games brands reported daily revenue rising 22% to €677k, with PartyPoker singled out for “maintaining its impressive growth.”