GVC Holdings has reported half-year results showing eight per cent growth in revenues, with a strong online performance offsetting a three per cent decline in retail performance.
The group’s net gaming revenue was £1.72bn on a pro forma basis, underlying earnings rose to £349.5m and interim dividends were up 10 per cent to 16p per share.
Having completed the acquisition of Ladbrokes Coral in March, integration is progressing with synergies on target to reach £130m by 2021.
Having established a 50-50 joint venture with MGM Resorts in the US, GVC’s CEO Kenneth Alexander described the group’s “best possible position to benefit from what could become the world’s largest regulated sports betting market”.
Alexander said: “The performance of the GVC Group in the first half has been extremely pleasing in what has been a very busy period. Strong momentum in online and European retail has continued, and a positive World Cup helped improve trends in UK retail in the second quarter.
“We have announced an interim dividend of 16 pence, 10 per cent ahead of last year, and the positive performance of the Group in the first half means that we are confident of delivering a full year result in-line with the Board’s expectations.”
