Issuing a trading update, GVC said it expects results for the year to December 31, 2019, to show “excellent operational and financial performance”, with online leading the way.
The gambling giant said it expects growth in the online division to underpin a ‘successful 2020’. It revealed that net gaming revenue ‘remains strong’ with the group recording a nine per cent growth across all major territories, with GVC attributing the growth to an increase in the number of sports wagers placed.
The company’s retail division has still continued to feel the effects of last year’s FOBT ruling, with UK retail like-for-like gaming revenue down 11 per cent during Q4. Like-for-like gaming machine NGR also saw a 31 per cent drop as a result of the legislation.
GVC chief executive Kenneth Alexander said: “The group’s operational and financial performance in 2019 has been excellent with the strong momentum reported at Q3 continuing throughout Q4.
“The performance continues to be driven by our industry-leading technology, products, brands, marketing capability, people and local execution, all of which is underpinned by our determination to spearhead the industry’s approach to responsible gaming.
“As the group continues to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports betting joint-venture in the US, the board is confident that the group is well placed for a successful 2020.”
GVC’s Eurobet brand saw a ‘particularly strong’ performance, with a seven per cent increase in wagers placed, however gross win margin was said to be partly offset due to ‘temporary disruption’ to the virtual offering in Belgium.