GVC Holdings PLC (LON: GVC), the global sports-betting and gaming group, today hosts a Capital Markets Event with presentations from senior management. As part of these presentations, GVC will announce:
· An additional £15m of cost synergies recognised in 2020 due to an accelerated migration of Ladbrokes Coral UK Online brands onto the GVC technology platform (no change to the total fully mature quantum of £130m by 2022)
· A better than expected Triennial Review impact which is likely to result in c£15m EBITDA benefit from 2020 compared to previous guidance[1]
· Continued strong current trading with full-year EBITDA in-line with market expectations[2]
Kenneth Alexander (GVC Holdings CEO) said:
“As we reported in our trading update last month, we have had an excellent start to the year with strong momentum across all divisions continuing into the second quarter. This is the first Capital Markets Event post the deal with Ladbrokes Coral, and we will provide an insight into the key enablers that are driving our market outperformance – proprietary technology, product, leading brands, cutting-edge marketing, our people and local execution. These are the growth foundations that will enable us to deliver sustained double-digit online NGR growth converting to significant long-term profit growth. We are making great progress on the Ladbrokes Coral integration and we have a clear roadmap for delivery in the US, where it remains early days, but there is no doubt that this is a great long-term opportunity for GVC.”
