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Annual Results

GVC adjusted pre-tax profits jump

23 March 2017 07:20

Adjusted pre-tax profits at GVC Holdings, the multinational sports betting and gaming group, rose to €93.8m in the year to the end of December from €46.4m in 2015.

Pro forma net gaming revenue rose by 9% to €894.6m (+12% in constant currency) and pro forma clean EBITDA increased by 26% to €205.7m.

Chief executive Kenneth Alexander 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."

Story provided by StockMarketWire.com

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