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Gambling firm GVC sees 2016 gaming revenue ahead of estimate

Published 02/02/2017, 08:13
Updated 02/02/2017, 08:20
© Reuters.  Gambling firm GVC sees 2016 gaming revenue ahead of estimate
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(Reuters) - Gambling company GVC Holdings Plc (L:GVC) said it expected full-year net gaming revenue to rise about 9 percent, slightly ahead of its previous estimate, on strong fourth-quarter trading.

GVC, which bought Bwin for 1.1 billion pounds in September 2015 after a heated bidding war with 888 Holdings Plc (L:888), said it expected pro-forma group net gaming revenue to rise to 894 million euros (761.5 million pounds) for the year ended Dec. 31, 2016 from 822 million euros reported a year earlier.

The company posted a 7 percent increase in net gaming revenue per day for the fourth quarter as international business helped it offset impact of "punter friendly" sports results in the UK.

Shares in the company were up 3.7 percent at 641 pence at 0803 GMT.

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