The first half of 2020 hasn’t been great for GVC Holdings, but they’re happy with the result, all things considered. The operator saw a dip in net gaming revenue (NGR), revenue, gross profit and EBITDA (Earnings before interest, taxes, depreciation, and amortization), but pointed to new investments as the way of the future

GVC reported NGR fell from £1.8 billion to £1.6 billion when compared with the same period in 2019, and revenue also fell from £1.78 billion to 1.58 billion, both an 11% drop. Gross profit fell even more as a percentage, from £1.18 billion to £1.03 billion. EBITDA fell from £366.8 million to £348.6 million, a 5% drop.

The overall drop in profits came due to the total shutdown of retail shops. UK retail NGR fell 50% year over year, and European retail fell 48%.

Saving the company was online NGR, which raised 19%, showing double digit growth across all markets. Surprisingly, they even saw a 5% increase in sports NGR, despite the lack of sports throughout the period.