Strong sports showing boosts GVC numbers
Year-on-year B2C sports NGR increase of 250% in fourth quarter contributes to overall increase.
A strong sports showing in the fourth quarter of 2011 helped GVC holdings record a 15% year-on-year B2C revenue growth for the 12 months ended 31 December, the operator revealed in a trading update today.
The fourth-quarter sports NGR of 4.2m represented a 250% year-on-year increase, contributing to a 53% year-on-year revenue increase for the vertical for the full year.
Gaming revenues rose 8.2% year-on-year to 50m for the 12-month period, while total group revenues for the fourth quarter rose 31% to 17.3m.
It was the first results statement from the AIM-listed company since its subsidiary East Pioneer Corporation agreed to acquire the Turkish-facing Superbahis business from Sportingbet.
While no comparatives are available, the B2B side of the business is expected to record revenues of 1m for the 40 days since the acquisition was completed, representing GVC’s minority share in Superbahis revenues, equivalent to 25,000 per day. This has risen to approximately 28,000 per day across the first 22 days of Q1 2012.
According to a statement this morning, GVC’s directors “remain cautiously optimistic for 2012.”