REG - GVC Holdings PLC - Trading update and Capital Markets Day <Origin Href="QuoteRef">GVC.L</Origin>

EntainAnnouncement

25/05/2017 07:06

RNS Number : 1734G
GVC Holdings PLC
25 May 2017
25 May 2017
GVC Holdings PLC
("GVC" or the "Group")
Trading update and Capital Markets Day
GVC Holdings PLC (LSE:GVC),the multinational sports betting and gaming group, is pleased to announce Q1 2017 KPIs and a trading update ahead of its Capital Markets Day. 
Key highlights: Q1 2017 vs pro forma1 Q1 2016
 Group daily NGR up 13% (+14% in constant currency)
 Sports Brands gross win margin 9.6% (8.5% Q1 2016)
 Sports Brands daily NGR up 16% (+17% constant currency)
 Games Brands daily NGR up 4% (+6% in constant currency)
Key highlights: Current trading (Q2 up to 21 May vs 2016 comparable period)
 Group daily NGR up 16% (+18% in constant currency)
 Sports gross win margin 10.0% (9.6%)
 Daily sports wagers +10% (+12% constant currency)
Q1 KPIs 
Per day in 000's
Q1-2017
Q1-20161
Change
CC Change

90 days
91 days


Sports brands




Sports wagers
 12,908 
 12,866 
0%
3%
Sports margin
9.6%
8.5%


Sports NGR
 948 
 843 
12%
13%
Gaming/other NGR
 1,000 
 838 
19%
21%
Total NGR
 1,948 
 1,680 
16%
17%





Games brands
 615 
 592 
4%
6%
B2B & Non-core
 115 
 98 
17%
21%





Group daily NGR
 2,678 
 2,370 
13%
14%
Group NGR (m)
 241.0 
 215.6 
12%
13%
The Group delivered a strong performance in Q1, with daily NGR up 13% (+14% in constant currency) on pro forma Q1 2016. 
Sports Brands continued to deliver strong growth with sports NGR up 12% (+13% constant currency), with the gross win margin of 9.6% an improvement on the 8.5% for the same period in 2016 - despite customer friendly results at the end of March. Meanwhile, daily gaming NGR for Sports Brands grew 19% (+21% in constant currency), reflecting the continued benefits of improved marketing and product, implemented post the acquisition of bwin.party.
Games Brands daily NGR increased 4% (+6% in constant currency) as the division continues to gain momentum. Particularly impressive was the performance of partypoker, which saw a further acceleration in daily NGR.
Current Trading
The positive momentum reported in Q1 has continued into Q2. Group daily NGR is up 16 (+18% in constant currency) for the Q2 period up to 21 May 2017 against the same period in 2016. Sports gross win margin is 10.0% (9.6% in 2016), with wagers +10% (+12% in constant currency). 
Capital Markets Day
GVC will today be hosting a Capital Markets Day at which the focus will be to provide an overview of Group's technology & operations and key B2C brands. No material new information will be provided at the Capital Markets Day.
Kenneth Alexander (CEO) said:
"I'm delighted at the performance of the Group, with the positive momentum continuing in 2017. Comparatives will get more challenging as we move through the rest of the year, particularly in the absence of a major football tournament this summer. However, I'm very confident that the combination of continued enhancements to the customer offering combined with a return to more normalised marketing spend will deliver another year of strong progress at GVC." 
1Assumes bwin.party acquired 1 January 2016
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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For further information:
GVC Holdings PLC

Kenneth Alexander, Chief Executive 
Paul Miles, Chief Financial Officer
Nick Batram, Head of Investor Relations & Corporate Strategy
Tel: +44 (0) 1624 652 559 Tel: +44 (0) 20 7337 0100
Tel: +44 (0) 20 7337 0110
Media enquiries:
Bell Pottinger

David Rydell, Laura Jaques 
Tel: +44 (0) 20 3772 2500
About GVC Holdings PLC
GVC Holdings PLC isa leading e-gaming operator in both B2C and B2B markets. GVC has four business segments with a number of brands; Sports Brands (bwin, Sportingbet, Gamebookers), Games Brands (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets. GVC acquiredbwin.party digital entertainment plc on 1 February 2016.The Group is headquartered in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 18 countries.
For more information see the Group's website: www.gvc-plc.com 

This information is provided by RNS
The company news service from the London Stock Exchange
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