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!

1mins ago someone from rs flag Serbia played Flaming Hot

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    36
  • Members Online
    582
  • Guests
    1,804
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (348 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (305 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (42 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (275 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (310 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (228 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (294 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (380 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (398 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (284 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (642 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (373 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (353 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (565 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (198 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (419 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (359 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (421 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (203 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (486 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (451 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (147 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (580 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (378 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)
Sportingbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (173 Ratings)
GoWild Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (388 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (523 Ratings)
Buzzluck Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (326 Ratings)
InterCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)


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