As of the 30th June 2019, GVC received a massive growth to its net gaming revenue by 5% with every year. Growth began during the first six months of the year despite reports suggesting that there has been a decline in revenue for the operators working in the UK retail firm.
Exact financial findings have not been released to the public as of yet, although information gathered has pointed towards a figure of 17% increase to the gaming revenue of the holdings of GVC. Sports betting has received a slightly higher increase in sales with 18%. The sports wagering occurring online has also received 13% increases for every year over time.
Unfortunately, the retail business under GVC has not been so lucky with their own sales. Branches such as Ladbrokes and Coral, land-based networks, have experienced a decline in their revenue by as much as 10%. However, the primary reason for this is due to the new laws that came into effect since April 1st. This has changed the UK betting terminals and has decreased the state of these devices from £100 to £2.
Chief Executive, Kenny Alexander, issued his statement regarding this increase and decrease in sales from the departments. He said: “Trading in Q2 remained very strong with the online division delivering continued material market share gains across all major territories”. He remains hopeful for the future of both industries. Even with the £2 terminals, the market behaves progressively well with continued support in the market share.
New licenses in Mississippi and Nevada were also granted to GVC. This means that further potential sales could be reached in new areas, even for the retail firms. Expectations for profits will continue to rise over the next year with these new developments.