GVC Holdings - 2019 Interim report shows strong operational momentum

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GVC Holdings PLC, the global sports-betting and gaming Group announces its Interim results for the six months, ended 30 June 2019. The report showed very strong operational performance within different branches. It was also reported - Ten-fold increase in contributions to Responsible Gambling causes. US market - New Jersey full online launch on-track for the start of the 2019 NFL season in September. The Group also expects to continue to offer online sports betting and gaming into Germany in the period through to the new regulatory framework in 2021. Within UK Retail, efficient execution of mitigation plans resulted in a Triennial Review impact that was better than initial expectations, with like-for-like NGR 10% behind last year, prompting a further upgrade to Triennial Review EBITDA guidance.

Kenneth Alexander (CEO) said: “The Group’s performance in the first half was extremely pleasing with Group proforma NGR 5% ahead. Online momentum remains very strong with proforma NGR 17% ahead, delivering continued market share gains across all major territories. Our online operating model is proving highly effective, building on the sustainable competitive advantages of our wholly-owned technology platform, leading product, cutting-edge marketing, leading brands and local execution, which are all delivered with an unrivaled understanding of the markets in which we operate."

*2019 and 2018 reported results are unaudited and reflect the acquisition of the Ladbrokes Coral Group plc on 28 March 2018.
**The Group’s proforma results are unaudited and presented as if the current Group, post the acquisition of Ladbrokes Coral Group plc, had existed since 1 Jan 2018.

The full Interim report in pdf: https://gvc-plc.com/wp-content/uploads/2019/08/H1-FY19-full-release-FINAL.pdf