GVC Releases H1 2017 Earnings
Unsurprisingly, GVC is pleased with the stellar results, which are way above what market analysts predicted.
GVC Holdings is one of the largest players in the online casino space. The publicly traded company recently released its H1 2017 results, which were very impressive:
For starters, overall gaming revenue came in at nearly €500m. This number was especially important, because this was the first H1 which included money coming in from GVC’s recent acquisition of BWIN.party.
Acquisition Strategy Pays Off
Unsurprisingly, GVC is pleased with the stellar results, which are way above what market analysts predicted:
“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,” GVC CEO Kenneth Alexander said in a statement, “a combination of high quality talent, proprietary technology and proven brands are key components driving the business forward.”
More Organic Growth Expected
Importantly, GVC noted in the report that they are also enjoying native growth. In other words, while the company’s numbers got a significant boost from its timely acquisition of BWIN.party, there was also growth in properties it already owned.
This is a strong indicator that management can be trusted to not only ride the wave of BWIN.party, but also continue to steward it in a profitable direction:
“Scale and geographic diversification are increasingly important as the regulatory environment evolves and competition increases. The strong performance of the business together with the smooth integration of bwin.party continues to present exciting organic growth opportunities,” Alexander said.
GVC Ready for Industry Consolidation
Beyond the numbers, online casino industry analysts are praising GVC for its forward-looking acquisition strategy.
Online casinos are in a time of flux right now, with competition increasing every day. Companies that are willing to go out and be aggressive with purchases are a sign of strong leadership and determination to come out on top:
“Given its proven track record of creating shareholder value, GVC remains well positioned to continue to play a pivotal role in the industry’s consolidation, should the right opportunities arise,” Alexander said.
