GVC Holdings’ revenues get a growth thanks to Bwin

24 Mar 2017

GVC HoldingsGVC Holdings is one of the biggest brands in the gambling industry, after all is Bwin’s mother company and as it seems the latter was a complete success during the year 2016, regarding the economical revenue. GVC has reported net gaming revenue growth of 9% in its full-year results for 2016, rising to €894.6 millions compared to €822.2 millions in 2015. The sports betting sector had a rise of 4%, while the operator reported an statutory pre-tax loss of €138.6 millions, mostly because of the Bwin acquisition, that took place in the 1st of February of 2016.

Kenneth Alexander, who is the Chief Executive of GVC, commented: «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.».

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No introduction is needed for Bwin. They were the first betting giants, being founded in 1999 when they came to the spotlight as Bet And Win. Since 2016, they have been under new ownership - GVC Holdings - and have a clear white market strategy, acquiring domestic licenses in New Jersey, Sweden, Italy, Greece, France, and Spain. Bwin is regarded as a top-class bookmaker, but there are some massive pros and cons. The website is a little bit outdated, and the odds should be higher, especially at the top leagues. The absence of Asian bets and the slow withdrawal times are also a great minus. The same applies to the fast limitation on winning accounts, no matter if we are talking about a sharp or a recreational player. On the other hand, the live betting section comes with so many extra features, like Multiview and live streaming. The range of extra bets, both at the pre-match and live betting, sports and payment methods is huge and the mobile apps magnificent. No matter the disadvantages, Bwin will always be a safe place and a classic destination for the bettors.

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