GVC Holdings, the UK online gambling operator, is looking at a bright future. Last year, 2017, was great, and 2018 promises to be just as wonderful for the company. Friday, March 9, 2018, GVC released the 2017 final report. It showed a net gaming revenue of 1 billion euros, which is a 13 percent jump from the year before.
The report also shows over 925 million euros in revenue for the Turkish operation. The million is a 17 percent gain on a year-on-year assessment. The earnings are up a total of 40 percent hitting over 239 million euros. The pre-tax profits were 178.7 million.
Bwin.party is now part of GVC. They acquired the digital entertainment brand in February 2016. The year-on-year analysis is a bit difficult since the company was once separate from GVC; however, it is known that since acquiring the company there has been a two percent increase in the pro-forma sports betting company, with earnings of over 3.85 billion euros. It may not seem like a huge increase, particularly with the UEFA European Championship tournament. But, one has to look at the sports margins, which increased by 1.4 points for a 10.8 percent increase, which gained revenue of over 331 million euros.
GVC Sports Brands
GVC has more than Bwin for sports brands. They also have Sportingbet, Gamebookers, and Betboo. When assessing these brands, there is a 21 percent growth for 2017, which allowed revenue of over 332 billion euros. The gaming brands such as PartyCasino, PartyPoker, Gioco Digitale, Casino Club, and Foxy Bingo had a 12 percent increase in earnings of 224 million euros. The sports revenue for these companies increased 9 percent to 4.7 million euros.
In the report, PartyPoker was singled out. Their growth was 42 percent more than last year. However, when you analyze the entire global party poker industry, they only climbed about two percent in the overall market share. PartyCasino has a TV-based marketing campaign, which helped the growth of the brand.
Kenny Alexander, the GVC CEO spoke with media and said that Bwin.party’s problem before GVC took over was poor management. The management was not paying it any mind and was letting the site die. It was like a knife being twisted in the brain trust behind the Bwin brand.
GVC is hoping for a lot to come out of 2018, with the 2018 FIFA World Cup in Russia, which is just a few months away.