UK-listed online gambling operator GVC Holdings went from strength to strength in 2017, and 2018 promises to accelerate that momentum.
In its final 2017 report released Friday, GVC’s full-year net gaming revenue jumped 13% to €1.008b, while the gains were up 17% to €925.6m if you factor out the recently jettisoned Turkish-facing operations. Clean earnings were up 40% to €239.5m while adjusted pre-tax profits totaled €178.7m.
GVC assumed control of the Bwin.party digital entertainment brands in February 2016, making direct year-on-year comparisons tricky, but pro-forma sports betting handle improved 2% to €3.85b despite 2016 featuring the UEFA European Championship tourney. Even better, sports margins rose 1.4 points to a healthy 10.8%, which pushed sports revenue up nearly one-fifth to €331.2m.
Gaming/other revenue at GVC’s ‘sports brands’ (Bwin, Sportingbet, Betboo, Gamebookers) enjoyed 21% growth last year, pushing its 2017 total just ahead of sports at €332.6m.