GVC Holdings expects to see growth in 2017

GVC Holdings financial results 2017

Credits: Central Connecticut State University

GVC Holdings has forecast a 13 per cent year-on-year growth in net gaming revenue for 2017.

UK.- GVC said NGR should come in at €1 billion in the 12 months through to December 31, 2017, while underlying NGR growth is set to climb 18 per cent year-on-year.

Clean earnings before interest, tax, depreciation and amortisation (EBITDA) is also expected to be at the top end of expectations.

The forecast growth following a strong fourth quarter performance that saw NGR amount to €279.5m, the largest quarterly figure since the purchase of bwin.party in February 2016.

NGR in Q4 also increased by 31 per cent, resulting in the biggest rise since the bwin.party acquisition.

The trading update comes after GVC last month agreed terms to acquire Ladbrokes Coral.

“I’m delighted to report another strong year for the group with underlying NGR growth of 18 per cent, reflecting the strength of our brands, technology and the hard work of our talented people,” said Kenneth Alexander, chief executive of GVC.

“We have once again demonstrated our ability to integrate significant acquisitions, realise material synergies and at the same time deliver top line growth.

“The recommended transaction with Ladbrokes Coral Group presents an exciting opportunity for both sets of shareholders, creating a global gaming group with a portfolio of strong brands across all major regulated online markets, together with proprietary technology and proven management.”