GVC Raise Full Year Profit Expectations Again

GVC the owner of brands such as Ladbrokes Coral, Bwin and Sportingbet has announced that it will raise its full year expectations following positive results from its businesses.

It is the second time in three months the gambling giant has announced it will see increased profits, this time GVC has said full year forecasts will be between £670 million to maximum £680 million.

The profits rise is on the back of improving online gaming results which has seen a 12% rise in revenues. Key figures for the rise in expectations is in online sports betting which in total saw a rise of 16% during the third quarter.

In particular GVC said it has seen an “encouraging start” from its new US facing sports betting App BetMGM.

The company also said in its trading update for the third quarter that their search for a new Chairman to replce current Lee Feldman was “progressing well and the Board expects to make an announcement before the end of the year.”

Source – Igaming world

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