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GVC’s revenue growth triggers further acquisitions

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GVC's revenue growth triggers further acquisitions

GVC has revealed double-digit revenue and earnings growth in the first six months of 2017 up to June 30.

In a trading update, GVC, the owner of Bwin, Sportingbet and Foxy Bingo, reported a pre-tax loss of €6.6m ($7.8m), compared with a €86.1m loss during the same period last year.

Revenues on a constant currency basis were up 11% year-on-year to €432m, with earnings before interest, tax, depreciation and amortisation (EBITDA) increasing 47% to €133.9m.

GVC’s sports betting division saw wagers plateau at €2.3bn, though the company said this had represented a good performance because 2016 figures were boosted by bets taken during the Euro 2016 football tournament.

Net gaming revenues jumped up 11% to €355.1m, as the company increased its win margins from sports bets.

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The group said it expects clean EBITDA for the current year to be “comfortably ahead” of an analysts’ consensus of €255.5m.

I am delighted with the strong progress across the group, which has continued to exceed our expectations since last year’s acquisition of bwin.party.  A combination of high quality talent, proprietary technology and proven brands are key components driving the business forward. Scale and geographic diversification are increasingly important as the regulatory environment evolves and competition increases.” – says chief executive Kenneth Alexander.

GVC has indicated a desire to seek more acquisitions, after last year taking over Bwin in £1.1bn deal that sent the firm into the FTSE 250.

Added Kenneth Alexander: “Strategically, the organic growth potential remains exciting and through further product development and increased marketing investment we are well placed to pursue these opportunities. However, we operate in an industry where regulation and increased taxation present headwinds and these are best addressed through scale and diversification. The combination of our people, proprietary technology and proven M & A track record, means GVC is well positioned to play a significant role in the industry’s ongoing consolidation. Our focus is to build further scale in markets where we have identified an opportunity for expansion and explore new fast growing markets, both in terms of products and geography.”…

The post GVC’s revenue growth triggers further acquisitions appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.

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Source: EEGaming.

Andrés Tamayo

Pragmatic Play Enhances FullReto Partnership with Virtual Sports Addition

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Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.

The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.

Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.

The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”

Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”

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Alonso Huiman

Pragmatic Play Launches Live Casino Offer at Atlantic City

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.

The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.

This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”

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Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”

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CGS Santiago

Pragmatic Play to Participate in CGS Santiago

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Pragmatic Play, a leading content supplier to the iGaming industry, is set to participate in CGS Santiago this month, as the provider seeks further inroads across the continent.

The provider is also the standalone Diamond Sponsor at the event, which takes place at Espacio Riesco in the country’s capital, Santiago, on May 29 and 30.

Pragmatic Play is set to attend the event as a renowned actor in the market, for its multi-product offering, comprising Slots, Live Casino content, Virtual Sports, Sportsbook, and Bingo, including fan-favorite titles Gates of Olympus and the popular Blackjack X.

With expo season now in full swing, CGS Santiago marks another conference in the region for the supplier, following its presence at BiS – SiGMA Americas in Brazil, GAT Expo in Colombia, and SBC Summit Rio earlier this year.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Latin America remains a key focus for Pragmatic Play as it gears up to make meaningful connections in Chile, a region full of potential as the iGaming industry continues to evolve in this part of the world. Pragmatic Play is also proud to be a Diamond Sponsor at this year’s expo, showcasing the importance that CGS Santiago represents and the immense opportunities that the two-day event has on offer.”

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