StockMarketWire.com - Gambling group GVC said it remained confident of meeting expectations after reporting 'very strong' performance in the second quarter as its online division continued to scoop up 'material' market share gains across all major territories easing a decline in its retail business.

Online net gaming revenue (NGR) was 16% ahead in the second quarter from a year earlier, with double-digit growth achieved in all major territories, including the UK (NGR up 19%), Germany (NGR up 24%), Australia (NGR up 38%), Italy (NGR up 19% cc) and Brazil (NGR up 38%).

Sports NGR was 19% ahead with sports wagers up 7% and sports gross win margin 0.8% ahead at 11.3%.

Its UK retail segment recorded a 39% year-on-year fall in like-for-like machines revenue following a regulatory cut in maximum B2 stakes to £2 implemented in April this year.

'Trading in Q2 remained very strong with the Online division delivering continued material market share gains across all major territories,' said Kenneth Alexander (CEO).

'In the US, Roar Digital, our JV with MGM Resorts, is on-track for its full online launch ahead of the NFL season in September.'

'The Group expects an announcement in August from Hesse, the state leading the regulatory process for online sports-betting in Germany, detailing the requirements that will govern the new sports-betting licences.'

'The strong trading performance of the Group means that any potential costs in 2019 associated with the new sports licences are expected to be fully mitigated. The Board therefore remains confident of delivering EBITDA and operating profit in-line with expectations for the full year.'




At 8:33am: [LON:GVC] GVC Holdings Plc share price was +8.1p at 616.9p



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