GVC Holdings has described its financial performance in 2019 as “excellent”, despite taking a retail hit in the UK.
Full-year EBITDA is forecast to be at the top end of the upgraded guidance bracket of £670m-£680m, with online gaming growing by 13 per cent.
GVC, which owns Ladbrokes Coral, stated that trends in UK retail remain ahead of initial guidance, despite the FOBTs crackdown, with a fall in net gaming revenue of 12 per cent.
In Europe, retail net gaming revenue was up by four per cent, while total group net gaming revenue grew by two per cent. GVC also reported good progress in the US, with its deal with yahoo Sports “representing a significant step forward”.
GVC Holdings CEO Kenny 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.”
