UK-based betting and gaming group GVC Holdings recorded steady growth for the year to December 31, 2016, posting sports betting revenues of €4.55bn, up four per cent year on year.

GVC Holdings

Net gaming revenue grew nine per cent in the period, up to €894.6m, while profit (clean EBITDA) was up 26 per cent in 2016, to €205.7m.

Kenneth Alexander, CEO, said: “The acquisition of bwin.party in February 2016 was our most ambitious transaction to date and through the hard work of our people we have once again demonstrated our ability to create significant shareholder value through selected acquisitions.

“Our strategy of pursuing international diversification and scale through leveraging our proprietary technology, is more appropriate today than at any time in our history.

“The organic growth opportunity is equally exciting and we are confident of delivering further growth in 2017,” said Alexander.