GVC makes it rain for shareholders following positive Q3 trading update

UK-listed online gambling operator GVC Holdings is making it rain for shareholders after posting a positive Q3 trading update.

On Thursday, GVC announced that overall revenue hit €221.5m in the three months ending September 30, up 12% from the same period last year. Twelve was the number of the day, as both sports and gaming daily average revenue also rose 12% to €962k to €1.4m, respectively.

Sports stakes were up only 3% but margins improved 1.2 points to 10.5%. GVC says Q4 has begun positively with average daily revenue up 8% in the month of October, a “particularly pleasing” result given that Q4 was 2015’s strongest period.

GVC also announced that it planned to pay a special dividend of €10¢ per share in February 2017. GVC had taken a “dividend payment holiday” this year in keeping with the terms of the €400m loan facility provided by Cerberus Business Finance that helped GVC acquire Bwin.party digital entertainment in 2015.