The online gambling firm said that third quarter revenues rose 12% compared to the same period in 2019. On the back of these results the company has raised expectation for the full year earnings to between £770 million and £790 million. Previously the company said that full year expectations would be in the £720 million to £740 million.
Even thou the gambling firm said that the new rules in Germany would negatively impact the profits for GVC by £70 million, it at the same time posted better than expected results in the US market with their tie-up with MGM Resorts.
Sales there were well in front of predictions with $150 million to $160 million expected this year. In their conference call on results for the third quarter Shay Segev the CEO of GVC said: “We have delivered our nineteenth consecutive quarter of double-digit online growth, along with market share gains in all our major territories … GVC is primed for further growth.”
The company also announced the acquisition of Portuguese online gambling operator Bet.pt for as yet undisclosed amount.
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