Online performance helps GVC’s revenues in 2018

The group said that it expects revenue from 2018 to increase 9% year-on-year.

UK.- GVC Holdings has released its latest trading update, which details that its 2018 earnings are expected to beat current projections. The company said that it expects its 2018 revenues to increase 9% year-on-year.

GVC informed that their projections have been based on a strong performance from the online sector and an increased contribution from its European retail business. Total online net gaming revenue for 2018 was up 19% and 21% on a constant currency basis.

Revenue increased in all key verticals, with revenue from sports verticals up 20% from 2017’s results and gaming brands totaling a 16% increase from the previous year. The B2B business also posted a strtorng performance, with a 17% increase year-on-year. The retail business from Europe posted a NGR increase of 16%.

Thanks to these numbers, GVC said that it expects EBITDA to be between £750 million and £755 million when it publishes its preliminary full-year results on March 5, and that would mean a 2.2% rise ahead of the current consensus of £739 million.

“The Group’s performance in 2018 has been excellent with the strong momentum reported at Q3 continuing into Q4,” said GVC chief executive Kenneth Alexander. “We are materially outperforming the market and taking share in all of our major territories. As the group carries this momentum forward into the new year, and starts to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports-betting joint-venture in the US with MGM Resorts, the board is confident that the group is very well placed for a successful 2019.”