Secure adnxs

Update: New Developments in GVC Holdings


Novelties in litigation against Boss Media

A new trading update has been issued by an online gambling group GVC Holdings plc for the period between 1 October 2010 and 15 December, including a report on the group's long-running litigation against Boss Media.

It seems that the group's top is satisfied with the current results, anticipating that it will meet the target values for the year. They pointed out that the Casino Club brand has proved to be resilient with average daily NGR at Euro 78 000 in Q4-2010, down slightly from Euro 81 000 in Q4-2009, also showing strong December results with daily NGR has averaged Euro 83 000.

Another rise was noted in Q4 sports wagers, which went up 41 percent to Euro 205 000, well ahead of the same period last year (Euro146 000). In terms of sports margins over the year, the average was at 12.6 percent, which is lower than in 2009 when 16.8 percent was achieved. Also, unfavorable sports results caused a 6 percent dropw in Q4 margins.

In the given period, these were the average daily stats for Q4-2010:

Sports wagers up 41 percent at Euro 205 000 (Q4-2009: Euro 146 000)

Sports hold 6 percent (Q4-2009: 22 percent)

Sports NGR Euro 11 000 (Q4-2009: Euro 32 000)

Gaming NGR Euro131 000 (Q4-2009: Euro 129 000)

Total NGR Euro 142 000 (Q4-2009: Euro 161 000)

In respect to 2010, the average daily statistics were the following:

Sports wagers Euro 193 000 (2009: Euro 149 000)

Sports hold 12.6 percent (2009: 16.8 percent)

Sports NGR Euro 24 000 (2009: Euro 24 000)

Gaming NGR Euro 126 000 (2009: Euro 124 000)

Total NGR Euro 149 000 (2009: Euro 150 000)

The group also expects further increases in its Latin American ventures, through its proprietary software powered Betboo subsidiary, which they believe will be able to reach self-funding in 2011 as marketing investment is boosted. The Malta-based management has further improved margins at the short-term expense of volume.

In addition, the group's Casino and Poker platform was transferred in Q4-2010 to an alternative provider, briefly affecting the volumes.

Turning to the group's litigation against GTechG2 subsidiary, Boss Media for breach of confidentiality, it seems that it will continue for a while, as there was a court hearing on jurisdiction in Malta on 2 December 2010, and also a separate arbitration has been initiated by Boss Media against GVC Corporation BV in Sweden. According to the Malta court, GVC's claims that the proceedings in Malta and Sweden are totally separate and should not be tied together are right.

Still, the court enabled Boss Media to provide more evidence regarding the jurisdiction issue by 25 January 2010 and adjourned the hearing on jurisdiction until 24 February 2010.

The preliminary date for oral submissions on jurisdiction to the tribunal in Sweden, has been set for 20/21 June 2011.

General Gambling News Casino Software Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from za flag South Africa read Silver Sands Casino review

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    33
  • Members Online
    504
  • Guests
    1,819
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (362 Ratings)
Mobil6000
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (60 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (296 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (328 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (347 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (267 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (319 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (401 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (425 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (314 Ratings)
Rizk Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (102 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (592 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (217 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (665 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (391 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (365 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (454 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (387 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (445 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (216 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (651 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (501 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (469 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (406 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (584 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (235 Ratings)
Ignition Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (56 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (221 Ratings)
PokerStars Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (67 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (106 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus