Report

A strong start

GVC’s 2015 final results showed revenue and adjusted EBITDA both up 10% to €248m and €54m respectively, marking its fifth successive year of revenue, adjusted EBITDA and dividend growth. The accompanying trading update reported group-wide revenues up 13% (ytd to 20 April on a constant currency basis), while also revealing that GVC has wasted no time in beginning the challenge of reinvigorating the bwin.party business. Cost synergies are on track and the bwin.party brands are already growing across all verticals (+11%), including poker, which showed its first year-on-year quarterly growth in five years.
Underlying
Entain PLC

GVC Holdings is a holding company. Through its subsidiaries, Co. is an online gaming company, provides business to consumer and business to business services to the online gaming and sports betting markets in Europe and Latin America. Co. operates in two segments, Sports and Gaming. Co. offers sports betting, casinos, games, and poker through online and mobile under the Sportingbet brand; and online bingo, sportsbook, casino, and poker access under the Betboo brand, as well as operates an online casino Website for German-speaking markets under the CasinoClub brand. Co. also various online poker games, including No Limit Texas Hold'em, Fixed Limit Texas Hold'em, and Pot Limit Texas Hold'em.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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