Good US Progress Gives GVC Growth In Q4

Global sports betting and gaming company GVC Holdings PLC has released a post-close trading update for the year ending 31 December 2019, noting good progress in the U.S. in Q4, with Yahoo Sports’ exclusive multi-year contract marking a significant step forward.

Trading results for the full year suggest EBITDA towards the top end of the revised Q3 guidance from £ 670m ($874m) to £ 680m ($887m). The company also noted a strong growth of 13 per cent in its online business with net gaming revenue (NGR) ahead.

The US joint venture with MGM, GVC, focusing on US activities, including Roar Digital, stated: “The business made good progress in Q4, with the exclusive multi-year deal with Yahoo Sports representing a significant step forward.

“Yahoo Sports is a content rich digital platform with over 60 million monthly unique viewers and is one of the leading fantasy sports operators. The deal further enhanced the excellent and growing roster of Roar Digital’s partners in the US. Online revenues grew strongly throughout the quarter and the group is excited about the outlook for 2020 and beyond.”

CEO Kenneth Alexander said, in summary: “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.”