GVC Holdings sees FY earnings at upper end of expectations
GVC Holdings expects pro-forma net gaming revenue for the year to the end of December and adjusted earnings before interest, taxes, depreciation and amortisation to be at the upper end of forecasts as the company’s strong trading performance has continued through the fourth quarter.
Entain
748.60p
17:00 24/09/24
FTSE 250
20,770.12
17:09 24/09/24
FTSE 350
4,567.19
17:10 24/09/24
FTSE All-Share
4,523.37
16:39 24/09/24
Travel & Leisure
7,930.83
17:10 24/09/24
The FTSE 250 sports betting and gaming group also announced a 49% increase in the proposed special dividend, previously announced at the start of November, to 14.9 cents per share, amid positive momentum in the business and strong cash generation.
In the fourth quarter up to 12 December, group daily net gaming revenue was up 12% against the same period last year, with Sports NGR up 19% and Gaming/Other daily NGR up 8%.
Chief executive officer Kenneth Alexander said: “Momentum across the group has continued to build throughout the year and is a reflection of the hard work of our employees, quality of our technology and strength of our brands.
“The integration of bwin.party is proceeding positively and ahead of our original expectations. We continue to look forward to 2017 with confidence and expect to achieve further significant progress."