Online gambling firm enjoyed continued momentum and strong cash generation in Q4
Companies: Entain PLC
Online gaming and gambling specialist GVC Holdings Plc has raised its adj EBITDA guidance to the top end of market consensus, citing strong Q4 trading performance, positive momentum, and cash generation.
GVC said it expected adj EBITDA to now be "at the upper end of market expectations" with group daily NGR (Net Gaming Revenue) up 12% and Sports daily NGR up 19%.
The FTSE 250 company said it was enjoying continued momentum during the quarter, which will please investors as it mirrors 2015 where December was the strongest trading month of the year.
As a result, management has decided to increase its special dividend by 49%, at 12.5p per share.
CEO Kenneth Alexander said momentum across the group had continued to build throughout the year:
"The integration of bwin.party is proceeding positively and ahead of our original expectations. We continue to look forward to 2017 with confidence and expect to achieve further significant progress."
Shares in GVC jumped 6% in early trading on Thursday.
