GVC cites bwin.party acquisition as main reason for boost in finances in 2016
GVC Holdings has stated that its takeover of bwin.party last year was the key reason behind a year-on-year increase in key finances in 2016.
The company’s pro forma net gaming revenue was €894.6 million ($963.7 million), an increase of 9% on the €822.2 million posted in 2015.
Clean earnings, before interest, tax, depreciation and amortization (EBITDA), jumped up 26% year-on-year to €205.7 million, on a pro forma basis.
GVC also revealed that pro forma sports wagers were up 4% from €4.39 billion in 2015 to €4.55 billion in the last year, with an increased sports margin of 8.5%.
The pro forma results exhibited a combined group as if GVC acquired bwin.party on January 1.
The company’s actual net gaming revenue rounded up to €843.4 million, while actual clean EBITDA came in at €193.5 million and actual sports wagers stood at €4.33 billion.
Kenneth Alexander, chief executive of GVC, said: “The acquisition of bwin.party in February 2016 was our most ambitious transaction to date and through the hard work of our people we have once again demonstrated our ability to create significant shareholder value through selected acquisitions.
“Our strategy of pursuing international diversification and scale through leveraging our proprietary technology, is more appropriate today than at any time in our history.
“The organic growth opportunity is equally exciting and we are confident of delivering further growth in 2017.”
Kai started working in the Gaming Industry in 2001 when he managed a Horse Betting Shop in Germany. With the more and more upcoming needs for Sportbetting Solutions for the German speaking market he moved in 2003 in Malta where he built up TopSportWetten, one of the first Sportbetting operators working from Malta with a Remote Gaming License.
In 2005 he moved to a new venture and joined the newly formed Team of BetUnited, a Company that had the goal to target the German speaking online market with a full portfolio of Betting, Poker, Casino and Games of Skill.
In 2007 he left BetUnited and concentrated on helping new Companies coming to Malta to obtain a remote gaming license and establish operators on the island.
In 2011 he founded Simka Consulting to combine his knowledge in the operational part of the IGaming Business with the Marketing expertise of Simona.
- TopSportWetten - Managing Director and Key Official
- Bet United - Managing Director and Key Official
- MMBet - Managing Director and Key Official
- Olympia Bet - Managing Director and Key Offical
- Production Planning and Project Manager - Infratec Pro Ltd.