GVC sees Christmas bonus in Q4 trading update; Bwin.party losing games director

UK-listed online gambling operator GVC Holdings says trading in the first two months of Q4 has been “most encouraging,” setting the company up for a “very positive” finish to an already impressive year.

GVC says net gaming revenue in the months of October and November averaged €716k per day, up 11.7% from the same period last year. The results prompted GVC’s board to declare it was “highly confident” of hitting its targets for the 2015 financial year.

Trading has been strong across the board, with sports betting revenue up 10.8% to €328k per day and gaming revenue up 12.5% to €388k. Sports betting turnover rose 12.7% year-on-year and sports margin improved 0.6 points to 9.3%. Customer deposits rose 8.3% to €1.83m per day.

For the first 11 months of 2015, GVC’s average daily revenue is up 10.5% to €677k. A strong showing by the gaming vertical (+16.1%) helped compensate for relatively modest sports gains (+4.8%), which were laid low by the poor sporting results that have plagued all UK operators this year. On the plus side, sports betting turnover was up 14.2% year-on-year.