bwin.party digital entertainment Pre-close trading update (7974K)
05 Janeiro 2016 - 5:00AM
UK Regulatory
TIDMBPTY
RNS Number : 7974K
bwin.party digital entertainment
05 January 2016
5 January 2016
bwin.party digital entertainment plc
('bwin.party' or the 'Company' and, together with its
subsidiaries, the 'Group')
Pre-close trading update
Key points
Ø Q4 net revenue up 5% on last year driven by sports betting and
casino, with strong growth in mobile driven by further product
enhancements. Excluding the impact of EU VAT, the underlying
increase in net revenue was 8%.
Ø Continued significant progress on cost savings
Ø One-off receipt of circa EUR10m expected to be received in Q2
2016 through Kalixa on sale of Visa Europe to Visa Inc.
Ø Recommended offer from GVC: completion expected on 1 February
2016, subject to the prior approval of the Court of Gibraltar
Ø Outlook: underlying fundamentals remain strong with further
product enhancements, the Euro championship and the full year
benefit of cost savings expected to drive growth in 2016
Trading update
Net revenue in Q4 grew by 5% versus the same period in 2014,
driven by sports betting and casino that enjoyed strong
performances, particularly through mobile channels. Excluding the
impact of EU VAT that was introduced in certain markets on 1
January 2015, the increase in net revenue would have been 8%.
Additionally, significant progress continued to be made on
achieving further cost savings.
Sale of Visa Europe to Visa Inc.
On 2 November 2015 it was announced that Visa Inc. had agreed to
acquire Visa Europe in a transaction valued at EUR21.2 billion
(including an earn-out of up to EUR4.7 billion). As one of Visa
Europe's Principal Members, Kalixa Payments Group stands to receive
a share of the upfront consideration. While the exact amount to be
received will only be confirmed when the transaction completes
(expected during the second quarter of 2016), the Group has been
informed by Visa Inc. that this is expected to be approximately
EUR10m. Kalixa will also be eligible to receive a share of the
earn-out if it remains a Principal Member (or equivalent) of Visa
for the duration of the four-year earn-out period.
Recommended offer from GVC Holdings PLC
Each of the resolutions was approved by shareholders at the
extraordinary general meeting of bwin.party shareholders held on
15(th) December 2015. Completion is expected to take place on 1
February 2016, subject to the prior approval of the Court in
Gibraltar. Admission of the new GVC shares to trading on the London
Stock Exchange is expected to take place on or around 8.00 a.m. on
2 February 2016.
Outlook
Based upon recent trading performance, the forthcoming Euro
Championship in 2016 and the full year benefit of cost savings
already achieved in 2015, the Board believes that the Group's
prospects are strong, and these will be enhanced yet further by the
proposed combination with GVC Holdings PLC.
Contacts:
bwin.party digital entertainment plc
Investors
Peter Reynolds +44 (0) 20 7337 0177
Media
Jay Dossetter +44 (0) 20 7337 0134
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTAKQDNBBKBFDK
(END) Dow Jones Newswires
January 05, 2016 02:00 ET (07:00 GMT)
Bwin.party Digital Entertainment (LSE:BPTY)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Bwin.party Digital Entertainment (LSE:BPTY)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024