* Q3 average net gaming revenue up 17 pct
* H1 pretax profit 1.5 mln euros vs 8.2 mln euros last yr
* Shares rise 6 pct
(Recasts; adds analyst comments, details)
By Aditi Samajpati
BANGALORE, Sept 28 (Reuters) - European online-gaming firm
GVC Holdings (GVC.L) said trading improved at the end of the
summer holidays in the third quarter and it expected the trend
to continue through the next two months.
Total average net gaming revenue for July 1 to Sept. 26 was
up 17 percent at 151.1 million euros, said the company, which
operates three business segments -- casino, poker and sports
betting.
"We are expecting a much stronger fourth quarter in
particular, as generally gaming companies do better in the
winters because people stay in as opposed to go out and do
other things," analyst Robert Sanders at Arbuthnot Securities
said.
GVC shares, which have lost more than half of their value
over the past one year, rose 6 percent to 103.5 pence at 1152
GMT on Tuesday on the London Stock Exchange.
The firm said it expected Betboo, its South American online
sports and gaming business that it bought last year, to be
profitable within 18 months.
GVC's January-June pretax profit fell to 1.5 million euros
($2.0 million) from 8.2 million euros a year ago, with Betboo
posting a pretax loss of 1.5 million euros.
Net gaming revenue rose 8 percent to 28.1 million euros.
The Isle of Man-based company, which competes with Sportech
(ROD.L) and Sportingbet (SBT.L), declared an interim dividend
of 10 euro cents a share.
Watch Casino Online
* H1 pretax profit 1.5 mln euros vs 8.2 mln euros last yr
* Shares rise 6 pct
(Recasts; adds analyst comments, details)
By Aditi Samajpati
BANGALORE, Sept 28 (Reuters) - European online-gaming firm
GVC Holdings (GVC.L) said trading improved at the end of the
summer holidays in the third quarter and it expected the trend
to continue through the next two months.
Total average net gaming revenue for July 1 to Sept. 26 was
up 17 percent at 151.1 million euros, said the company, which
operates three business segments -- casino, poker and sports
betting.
"We are expecting a much stronger fourth quarter in
particular, as generally gaming companies do better in the
winters because people stay in as opposed to go out and do
other things," analyst Robert Sanders at Arbuthnot Securities
said.
GVC shares, which have lost more than half of their value
over the past one year, rose 6 percent to 103.5 pence at 1152
GMT on Tuesday on the London Stock Exchange.
The firm said it expected Betboo, its South American online
sports and gaming business that it bought last year, to be
profitable within 18 months.
GVC's January-June pretax profit fell to 1.5 million euros
($2.0 million) from 8.2 million euros a year ago, with Betboo
posting a pretax loss of 1.5 million euros.
Net gaming revenue rose 8 percent to 28.1 million euros.
The Isle of Man-based company, which competes with Sportech
(ROD.L) and Sportingbet (SBT.L), declared an interim dividend
of 10 euro cents a share.
Watch Casino Online
