GVC Holdings PLC Capital Markets Event (1759Z)
May 16 2019 - 1:00AM
UK Regulatory
TIDMGVC
RNS Number : 1759Z
GVC Holdings PLC
16 May 2019
16 May 2019
GVC Holdings PLC
("GVC" or the "Group")
Capital Markets Event - the foundations for long-term market
outperformance
GVC Holdings PLC (LSE: 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 GBP15m 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 GBP130m by 2022)
-- A better than expected Triennial Review impact which is
likely to result in cGBP15m 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 (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."
Notes
(1) Previous Triennial Review Guidance was an adverse Group
EBITDA impact of GBP145m in 2020 reducing to an adverse Group
EBITDA impact of GBP120m in 2022. This is now expected to be an
adverse Group EBITDA impact of GBP130m in 2020 reducing to an
adverse Group EBITDA impact of GBP105m in 2022
(2) Bloomberg consensus 2019 EBITDA of GBP646m as at 15 May 2019
Materials and Webcast
A live webcast will be available via the following link:
https://webcasting.buchanan.uk.com/broadcast/5cd146012ab7787998e601f4
Presentations will commence at 1.30 UK time
- ends -
LEI: 213800GNI3K45LQR8L28
Enquiries:
GVC Holdings PLC
Kenneth Alexander, Chief Executive Officer
Rob Wood, Chief Financial Officer
Paul Tymms, Director of Investor Relations & Corporate Communications (investors@gvc-plc.com)
Media enquiries:
Buchanan Communications
David Rydell/Chris Lane/Jamie Hooper/Hannah Ratcliff Tel: +44 (0) 20 7466 5000
Forward looking statements:
This announcement contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this announcement and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
our results of operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. By their
nature, these statements involve uncertainty since future events
and circumstances can cause results and developments to differ
materially from those anticipated. The forward-looking statements
reflect knowledge and information available at the date of
preparation of this announcement and, unless otherwise required by
applicable law, the Company undertakes no obligation to update or
revise these forward-looking statements. Nothing in this
announcement should be construed as a profit forecast. The Company
and its directors accept no liability to third parties in respect
of this document save as would arise under English law.
About GVC Holdings PLC:
GVC Holdings PLC is one of the world's largest sports-betting
and gaming groups, operating both online and in the retail sector.
The Group owns a comprehensive portfolio of established brands;
Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes,
Neds and Sportingbet; Games Brands include CasinoClub, Foxy Bingo,
Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns
proprietary technology across all of its core product verticals and
in addition to its B2C operations provides services to a number of
third-party customers on a B2B basis. GVC acquired Ladbrokes Coral
Group plc on 28 March 2018 and is now the UK's largest high street
bookmaker, with over 3,400 betting shops. The Group has also
entered into a joint-venture with MGM Resorts to capitalise on the
sports-betting and gaming opportunity in the US. The Group,
incorporated in the Isle of Man, is a constituent of the FTSE 250
index and has licences in more than 20 countries, across five
continents.
For more information see the Group's website:
www.gvc-plc.com
This information is provided by RNS, the news service of the
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END
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