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GVC Holdings interim profit slips on Bwin-related costs

Fri, 28th Aug 2015 11:00

(ShareCast News) - Online gambling operator GVC Holdings posted a small drop in interim pre-tax profit as the company said it was hit by costs related to its pursuit of Bwin.Party Digital Entertainment.For the six months ended 30 June, pre-tax profit came in at €17.07m versus €18.02m in the first half of last year, as it shelled out €3.8m in fees relating to its potential acquisition of Bwin.Party.Revenue for the period was up at €120.9m from €105.1 in 2014.The company, which is currently competing against 888 Holdings to nab Bwin.Party, said net gaming revenue rose 15.3% to €65m, although the gross martin in sports fell to 8.8% from 9.9% in 2014.The group declared an interim dividend of 42 cents a share, which was up 5% on last year.On Thursday, Bwin announced that key aspects of GVC's proposal had been addressed to its satisfaction and asked GVC to clarify, with respect to its proposal, the best terms on which it is prepared to make a formal offer to acquire the business.On Friday, GVC's chief executive officer, Kenneth Alexander, said: ""With our track record of delivering value through organic growth and acquisitions we are determined that GVC will play an important role in the continuing consolidation of the online gaming sector. We expect to update the market soon about our discussions with Bwin.Party Digital Entertainment plc."The company said that if successful, "the reverse takeover would be a further transformational step for the group and its shareholders."At 1113 BST, GVC shares were up 1.1% at 439.95p.
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2 Feb 2016 08:52

Paddy Power And Betfair, GVC And Bwin.Party Mergers Complete

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11 Jan 2016 15:42

GVC Holdings reports jump in annual revenue ahead of Bwin.party merger

(ShareCast News) - Gaming company GVC Holdings on Monday reported a 10.2% increase in 2015 net gaming revenue to €247.7m (£180.03m) ahead of its merger with Bwin.party. In a trading update for the year to 31 December, the group revealed annual results would be supported by a strong last quarter. Net

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11 Jan 2016 07:40

GVC Holdings Net Gaming Revenue Grows In 2015 Ahead Of Bwin Merger

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6 Jan 2016 15:09

FTSE 250 risers: Oil prices and volatile China sees shares drop

(ShareCast News) - The FTSE 250 was left sitting in a puddle by mid-afternoon Wednesday, down 184.25 points (1.07%) at 17,020.78. Low oil prices were to blame for the second tier market's biggest faller Tullow Oil as well as Cairn Energy. Both Brent Crude and West Texas Intermediate sank below $35 a

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6 Jan 2016 09:38

BROKER RATINGS SUMMARY: RBC Capital Promotes BAE Systems To Top Pick

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5 Jan 2016 07:29

Bwin.Party Achieves Growth In Net Revenue In Fourth Quarter

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5 Jan 2016 07:16

Bwin.party ends year on high ahead of takeover

(ShareCast News) - Bwin.party ended its financial year on a high, ahead of its final results and takeover by GVC Holdings. The FTSE 250 online gambling company, in a market update on Tuesday, said its fourth quarter net revenue was up 5% on the previous year, driven primarily by sports betting and c

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5 Jan 2016 07:07

London pre-open: Stocks seen higher as Asia stabilises

(ShareCast News) - London stocks are set to open higher on Tuesday on the back of a stabilisation in Asian markets following heavy losses in the previous session. The FTSE 100 is expected to start 49 points higher than Monday's close at 6,142. "After an initial wobble, shares in Shanghai and Shenzh

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22 Dec 2015 16:05

Earnings, Trading Statements Calendar - Week Ahead

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16 Dec 2015 15:28

FTSE 250 movers: Strong trading leads Supergroup to top of the pack

(ShareCast News) - The FTSE 250 was on track to finish the day in the green on Wednesday, up 78.47 points (0.46%) to 17,078.03 by mid-afternoon. Supergroup led the risers after it released its half year report, showing strong trading leading to positive sales growth. The owner of popular faux-Japane

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16 Dec 2015 09:50

BROKER RATINGS SUMMARY: Exane BNP Raises Pearson To Outperform

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15 Dec 2015 11:04

GVC/bwin.party shareholders approve takeover deal

(ShareCast News) - Online gaming outfit GVC Holdings' takeover of bwin.party digital entertainment moved a step closer on Tuesday as shareholders of both companies approved the deal. bwin.party said 99.99 per cent of shareholders voted in favour of the deal, while 99.91 of GVC's did the same. Both

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17 Nov 2015 12:52

Bwin extends supply deal with Danish partner

(ShareCast News) - Bwin.Party Digital Entertainment announced a multi-year extension to its existing B2B supply agreement with Danske Licens Spil, which is the online gaming subsidiary of Danske Spil. The Danske Spil Group is 80% owned by the Danish government and is one of the largest betting and g

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17 Nov 2015 12:18

Bwin.Party Digital Entertainment Extends Deal With Danske Licens

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10 Nov 2015 08:44

bwin's non-exec director steps down

(ShareCast News) - Daniel Silvers has stepped down from bwin.party's board of non-executive directors, the online gaming group said on Tuesday. Earlier this year, Silvers announced he would leave SpringOwl Asset Management to pursue commercial interests elsewhere. As a result of his decision, he cho

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