UK-listed gambling operator GVC Holdings says it enjoyed strong double-digit online growth in the third quarter of 2018, although UK retail betting operations lagged the rest of this otherwise happy gambling family.
In a trading update issued Thursday, GVC says total group net gaming revenue was up 14% year-on-year in the three months ending September 30. The numbers assume that GVC’s acquisition of the Ladbrokes Coral brands was a fait accompli in the prior-year period, while factoring out GVC’s divestment of its Turkish-facing business.
Overall online revenue was up 31%, with GVC’s sports brands – bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet – improving 28% (up from 19% growth in H1 2018). The second half of the 2018 FIFA World Cup helped boost betting turnover by 16% while margins improved 0.8 points, and the recently acquired Georgian-facing Crystalbet business “continues to grow strongly.”
GVC’s gaming brands – CasinoClub, Foxy Bingo, Gala, Gioco Digtale, PartyPoker and PartyCasino – enjoyed 19% growth (versus 13% in H1). PartyPoker was singled out for posting 43% year-on-year growth thanks to increased marketing spend and a packed lineup of live event tournaments, confirming the brand’s resurgence after its dire performance in the Bwin.party era.