Following substantial financial success in 2014, online casino and sportsbook GVC Holdings has reported further growth during the first quarter of this year.
In a trading update for the period from January 1 to March 18 this year, GVC stated that deposits are up 20% year-on-year to €1.7 million ($1.8 million) per day.
Elsewhere, wagers in the first quarter are up 22% on the previous year while net gaming revenue per day is up 18% to €661,000 per day.
GVC also noted that in-play revenue increased from €252,000 per day in the first quarter of last year to €300,000 per day in the same period this year.
Sports gross margin for the first quarter of this year was 8.9%, against 10% in the corresponding period last year.
The positive start to 2015 comes after GVC previously posted significant growth in 2014, as reported by iGaming Business in January.
GVC has expanded on these previous figures by also stating that wagers in 2014 were up 25% on the previous year to €1.5 billion.
Elsewhere, clean earnings before interest, tax, depreciation and amortisation increased 28% year-on-year to €49.2 million while profit before tax was up 217% to €41.3 million.
Kenneth Alexander, chief executive of GVC Holdings, said: “We control our costs very tightly, have highly motivated employees who have financial incentives aligned to shareholders and we are in a strong position to be a consolidator in the industry.
“I am delighted to announce, yet again, a proposed increase in the quarterly dividend along with a special dividend which in total amounts to a year-on-year increase of 14% in the dividends declared so that shareholders will receive a total of €15.5 cents in May 2015.
“GVC has never been in a stronger position and we look forward to 2015 and beyond with confidence.”
source : www.igamingbusiness.com
