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GVCa leading online sports betting and gaming group, today announces its Preliminary Results for the year ended 31 December Bwin online casino review The full results are available to download in PDF format.
View the slides of the Preliminary Results Presentation. View the Preliminary Results Webcast. 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 The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation EU No.
Upon the publication of this announcement, this bwin online casino review information is now considered to be in the public domain. A presentation for analysts and investors will be held today at 9: The presentation will be webcast live and available bwin online casino review The presentation will also be accessible via a live conference call. There will also be a replay available for one week. An on demand replay will also be available on the GVC website following the presentation.
This announcement contains inside information. The acquisition of bwin. Importantly, the bwin online casino review of bwin. In a competitive and rapidly evolving global regulatory environment, we believe this strategy leaves GVC well placed to continue to create shareholder value. In August, just six months after completing the bwin.
GVC is highly ambitious and focused on measurable delivery. Therefore, it is pleasing to report the Group achieved a strong operational and financial performance in The integration of bwin. Bwin online casino review talented, hardworking team and the corporate culture we kwin casino fostered have been the key drivers of a smooth 888 poker review. We employ c2, people across 15 offices and four continents.
Creating a Group-wide identity and culture based on common values has been an important part of the integration process.
Our core values of collaboration, dynamism, ownership, recognition and transparency, reflect the culture of our business and what we believe is required to succeed in a highly competitive and rapidly evolving industry. It is a reflection of the progress made and the potential of GVC, that the Group has been able to attract a number of highly regarded professionals from across the gaming industry and beyond.
This has enabled us to strengthen our business in a number of areas, the benefits of which have already begun to be experienced, but with much more to come. The Nomura Loan bwin online casino review lowered our finance costs. In February we launched our inaugural syndicated debt offer to great success. This was used to pay down the Nomura Loan in full. The new financing gives us both significant financing visibility and also access to a broad number of debt investors.
The dividend was settled in sterling at In addition, we have also declared a second special dividend of euro In addition, the Board will also give consideration bwin online casino review returning future excess cash to shareholders. Excess cash will be determined by the capital requirements of the business, together with the trading outlook at the appropriate time.
I would also like to take this opportunity to thank Richard Cooper, who retired as Group Finance Director and from the Board in February We wish him all the success in the future. Will is a highly experienced business professional and is a significant appointment for the Group. Through the combination of talented people, proprietary technology and strong brands, GVC is well placed to pursue the many opportunities and face the challenges presented bwin online casino review the dynamic industry in which we operate.
GVC will be posting its Annual Report to shareholders the week commencing 1 May and it will be uploaded on our website www. I am pleased to report that the Group delivered a strong financial performance in Many of these costs relate to the acquisition of bwin. A key driver of the business in was the performance of the bwin sports label across its core European markets.
Also pleasing in was the performance of Games Bwin online casino review. Historically, partypoker and partycasino were some of the most challenged bwin online casino review of bwin. In part this reflected the structural challenge presented by the poker market, however, it is fair to say that product development lagged key competitors, whilst the business suffered from a lack of focus.
This much improved performance was the result of a change in management, increased investment and a more focused approach. The Group has a strong track record of creating shareholder value through real slots real nz earnings-accretive acquisitions and efficient integration of the acquired operations and bwin.
Through a refocusing on core markets, improving the customer proposition, together with für bet365 deposit code für number of key hires, our instincts have proven correct, reflected by the strong revenue and Clean EBITDA growth highlighted above. It is now just over a year since we acquired bwin. The preparatory work to migrate the Sportingbet and associated brands onto the bwin platform has largely been completed with three countries already switched over.
Given the strong underlying performance of the business we have decided to further mitigate the risk of disruption by commencing the migration of the click territories bwin online casino review the relevant football seasons have finished.
Our acquisition of bwin. We firmly believed we could return the business back to growth. Between andbwin. Whilst the spins casino 80 free online process is almost complete, we continue to look for improvement and enhancements across the business. Indeed, we feel the organic growth opportunity of the enlarged GVC is greater than originally expected and a key strategic theme in will be increased, but focused, investment in marketing to fully exploit this potential.
We are bwin online casino review excited read article the cross-sell opportunity presented by the migration bwin online casino review Sportingbet and other associated brands to the bwin platform. The bwin platform has proven to be particularly effective in enabling the cross-sell of other products to sports customers and penetration rates are now double that achieved across the Sportingbet platform.
The importance of proprietary technology to our business cannot be overstated. In an increasingly competitive and regulated industry, control of our own technology gives the Group significant flexibility and operational leverage. Duringplatform stability improved significantly, with availability exceeding This is key, as with a robust and efficient platform we can process substantially more wagers at little additional fixed cost.
Following the bwin online casino review of bwin. It is worth noting that revenues within Sports Labels are not limited purely to sports wagers but include revenues derived from other gaming bwin online casino review conducted on any of our Bwin online casino review Label brands.
Similarly, though to a lesser extent, Games Labels include bwin online casino review wagers made through any of our Games Label brands. However, it is fair to say that the brand had lost market share in a number of core territories in recent years.
Therefore, the performance of the business in was particularly encouraging. Not only did our existing customers spend more with us but also we were successful in adding new customers. The higher gross win margin was largely due to the improvements we made at bwin, particularly in the area of risk management which led to a significant reduction in low margin turnover.
During the year we significantly expanded our gaming offer to our sports customers. It was a deliberate strategy in to curtail marketing spend in the acquired businesses that achieved either low returns on investment or returns that could not be accurately measured. Therefore, to deliver read more growth on relatively low marketing spend is both pleasing and a recognition of the strength of the brands we own.
This is still below best online machine websites slot of our peers and represents an area of real opportunity for the Group. In addition to increased just click for source investment, will see us continue to expand the product offering as well as further improvements to the overall customer experience.
CRM is key to generating positive returns from marketing and we have made a number of key senior appointments in this area.
Historically, the Games Labels within the bwin. Our focus in was to improve management, increase investment, enhance the product and the customer experience. We also took the decision to restructure partycasino and separate the brand from partypoker, bwin online casino review the offering under a new management team.
Taking inspiration from CasinoClub, there is greater emphasis on VIP management and reducing reliance on partypoker in terms of customer acquisition. Significant improvements were made to the product and customer services before relaunching the brand in H2 As a result, along with increased investment, partycasino saw a significant acceleration in new player acquisition through H2, along with lower attrition and increased revenues per customer.
December was particularly strong and this positive momentum bwin online casino review continued into In the second-half of we brought in a new Head of Bingo and significant work has already been undertaken to reinvigorate the brand and customer proposition. New creative and media agencies have been appointed and in March a new marketing campaign was launched with Hollywood actress Casino mobile game.com Graham promoting the rebranded Foxy Bingo and Foxy Casino.
CasinoClub celebrated its 15th anniversary in with a series of events across Europe. Through its heritage and bespoke club approach, CasinoClub has established a leading position in German speaking markets and benefits from a loyal customer base.
Last year also saw the brand take control of its software platform, previously provided by a third party, while delivering a positive top line performance. Gioco Digitale is the second largest bingo brand in Italy, a top ten casino brand and is very much aimed at the casual player looking for entertainment.
There was some restructuring post acquisition, with improved marketing, promotions, CRM and product. As a consequence, NGR grew strongly, particularly in casino. All of our gaming labels are also benefiting from the many new content deals signed over the past 12 months. With further product enhancements and additional content we expect mobile revenues to continue to grow strongly.
Looking ahead, the focus will be on continued product improvement across all of the brands, along with improved customer service. The improvement to product and customer experience across all of our games is ongoing and supported by more targeted marketing, we expect further progress in and beyond. Furthermore, in addition to the significant amount of new third party gaming content already secured, the Group is also accelerating bwin online casino review development of its own unique in-house products.
Proprietary technology presents the Group with the opportunity to provide B2B services to bwin online casino review parties, but this has to be balanced with the potential presented from our own B2C operations. We will pursue B2B opportunities that are meaningful but only where there is no significant distraction to our core B2C operations or those that do not compromise our long-term strategy.
Consistent with this focus, the B2B bwin online casino review with Betfred bwin online casino review mutually terminated.
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Email Testing Record December - 5 hours 9 minutes December - 1 day 4 hours 23 minutes Need to create an account to legal games even simple support questions answered June - 2 hours 18 minutes November - No email support unless signed in June - No email support unless signed in December - 1 hour 49 minutes January 1st email - No Response 2nd email - No Response 3rd email - 24min. Bwin hold the read article gambling licenses: They do not manage complaints for players directly, instead requiring their operators to appoint a UKGC accredited Alternative Bwin online casino review Resolution service.
As such the value of this license bwin online casino review players depends largely on the professionalism of the ADR service utilised.
Gibraltar Gaming Commission - The GGC is one of the more reputable online gaming regulators, but we are aware of a serious software issue where they failed to uphold their own technical standards.
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