B2B off to promising start for GVC
East Pioneer Corporation bringing in 56.1k in daily revenues in Q1; B2C revenues for FY 2011 up 17% year-on-year.
The newly formed B2B arm of GVC Holdings has brought 56.1k in daily revenues, the operator revealed in a trading update for the 113 days ended 22 April 2012.
GVC moved into providing B2B services for the first time at the end of 2011, following its backing of East Pioneer Corporation, which agreed to purchase Sportingbet’s Turkish operations in November.
The AIM-listed operator also provided its full results for the year ended 31 December 2011, detailing a 17% year-on-year increase in revenues to 64.3m and B2C revenues up 6% compared to 2010. Overall this represents a fifth consecutive year of revenue growth.
As part of what chief executive Kenny Alexander (pictured) has called “a change of direction for the group away from pursuing growth in pure B2C markets”, GVC has also disposed of its Betaland business for a nominal sum.
It retains a B2C presence in the Latin American-facing Betboo, with today’s trading update mentioning a 165% year-on-year increase in sports wagers.
The company’s CasinoClub brand, meanwhile, remains active in Germany. Last April GVC confirmed it intended to apply for a Schleswig-Holstein licence if the opportunity arose, and is believed to be among the 86 operators to have expressed an interest in the jurisdiction in February this year.
Alexander said in a statement: “Trading in 2012 has started encouragingly, despite some unusually high casino winners across both B2C and B2B along with a softness in the B2C sports margin percentage through punter-friendly results.”