GVC Holdings has announced continued growth as the group remains on track to achieve full year objectives, in its third quarter trading update for the period ending 30 September.
Group NGR growth of +14 per cent was particularly boosted by strong digital momentum of +28 per cent, driven in large part by its sports (+31 per cent) and gaming (+19 per cent) divisions.
“Extensive live event tournaments and continued marketing investment” was lauded for a +43 per cent growth of GVC’s partypoker brand, whilst “strong levels of first-time-depositors” helped drive Gala and GVC casino (+18 per cent) interests.
Boosted by the closing stages of World Cup Russia 2018, GVC sports brands NGR grew 31%, with the company maintaining double-digit growth for its acquired Ladbrokes (+24%) and Coral UK (+29%) digital properties.
The organisation also provided an update on its US operations, with its joint enterprise alongside MGM Resorts seeing the soft-launch of its New Jersey Android mobile app.
The launch of an iOS version is imminent, and is currently awaiting Apple Store approval, following which a full ‘playMGM’ marketing campaign will commence.
The joint venture has also signed a market access agreement with the United Auburn Indian Community, which in the event that California legislates sports-betting, will enable access to the Californian market with its brands.
Regarding the updates, Kenneth Alexander, GVC CEO, explained: “The group’s performance in the quarter was very pleasing, with momentum continuing across the online and European retail divisions.
“As highlighted in our H1 results, we will look to consolidate our position in markets where we are taking market share through the reinvestment of excess returns, and the board is confident in its full year expectations.
“We believe our sports-betting joint venture with MGM is best placed to be the market leader in the US, and we have taken the first steps on that journey with the soft-launch of our sports-betting app in New Jersey.
“We have also recently announced a series of CSR measures, including a multi-million pound commitment to responsible gambling initiatives, and a call for a pre-watershed ban of TV advertising in the UK around football and other live sports.
“The industry continues to evolve and whilst there are challenges, there are also many exciting opportunities. Through our proprietary technology, portfolio of brands, leading product and talent, GVC is well placed to continue to deliver shareholder value.”
GVC also details that Rob Wood has been appointed deputy CFO with immediate effect, with the longer term goal of succeeding Paul Bowtell as GVC’s CFO, following his decision to step down from the board on 5 March 2019.
