GVC Gaming reports strong results for 15H1

London AIM listed igaming group GVC Holdings, the operator competing against 888 Holdings for the takeover of bwin.party Entertainment, published strong results for 15H1.

GVC recorded a 18.6 percent increase in wagering to €824 million ($924 million) for the period, compared with €694 million in 14H1.

A strong wagering result led to improved performance throughout all core GVC metrics, as the operator recorded net gaming revenues of €121 million, up 15 percent from the corresponding period in 2014.

EBITDA earnings were €25.5 million, up 14 percent on €22.4 million recorded in 14H1.

GVC said its positive performance was driven by improved player activity during the period, with an 18 percent increase on player deposits, despite no major football tournament during the period.

Improved player activity had been supported by strong take-up of GVC products in-play and mobile betting services, which accounted for 38 percent of gross gaming revenues.

Read more: http://www.sbcnews.co.uk/featurednews/2015/08/28/strong-sports-betting-performance-drives-gvc-h1-revenues-up-15/#ixzz3kOUY5l8n