GVC Credits Online For Bulk Of Its Success

GVC Credits Online For Bulk Of Its Success
According to a recent three-month trade update that was published by gaming entertainment giant GVC Holdings, its commitment towards developing its digital products in the online sector, has started to pay off in a big way. During the three-month period leading up to March 31st, the group experienced a 17% surge in net revenue generated by online gaming.

According to comments made by the group following the published results, GVC is of the opinion that strong growth volumes have been experienced in all major territories. This will certainly not be the first time that any group notices a strong up swing in overall revenue thanks to a spark that was set off by mainly online digital products.  

UK Still Poses Many Challenges

Retail however, and especially UK-driven retail, has remained mostly flat, thanks to the equalising effect of over-the-counter sales having been down by almost 6% and machine net gaming revenue having experienced a 4 percent increase.

Group CEO Kenneth Alexander is well pleased with the results, and said in a statement that the trade updates indicate a continuation of the already strong trends reported earlier on in March. Also, said Alexander, the results indicate a strong start to the new 2019 financial year.

Targets Remain On Course

But, said Alexander, nothing short of double-digit net revenue growth would be considered as being good enough or on target. As it stands at the moment, the stage is set for success. GVC’s efforts to diversify its product offerings as well as geographical reach has been one of the main contributing factors to the group’s recent bout of successes.

But, said the group, with the good, one must also be willing to face the challenges. The UK market and its constant marathon of new restrictions will no-doubt have some impact on especially the revenue generated by B2 machines. The latest stake limits were implemented on April 1st, and according to GVC, it will be some months yet before it will be able to translate into figures and further projections the full impact of the changes.

However at this stage of the game, said Alexander, GVC’s board looks forward to all financial targets being met and even in some cases exceeded, for the remainder of 2019.