Ahead of its annual meeting, bosses at gambling outfit GVC (GVC) have said the 2015 financial year is off to a strong start. Net gaming revenue for the 120 days to 30 April 2015 averaged €658,000 per day, up nearly 18 per cent year on year. Gaming revenues marginally edged out the sports division, coming in 19.7 per cent ahead of last year, while sports revenues grew 15.2 per cent. Sports wagers have grown strongly, rising 21 per cent versus this time last year.
But this generated a sports margin of 8.75 per cent against a 2014 comparison of 9.62 per cent. Like some of its close competitors, GVC has blamed this on a string of customer-friendly results, particularly in football. High street bookie William Hill (WMH) said a combination of adverse Premier League results had led to its largest ever loss-making week in January this year. Regardless, GVC insists the year is going well so far, and hasn't altered its expectations for the full year.
