Bwin.party has revealed that it was able to achieve year-on-year revenue growth during the three months through to December 31, while also announcing that it expects to complete its proposed merger with GVC on February 1.
In a pre-close trading update, the online gaming operator said that revenue in the fourth quarter was 5% higher than the amount posted in the corresponding period last year, due to strong performances within sports betting, casino and mobile.
The company noted that excluding the impact of European Union VAT that was introduced in certain markets in January last year, the increase in revenue would have been 8%.
Bwin.party also reported that it was able to make “significant progress” with an ongoing cost-savings strategy during the period.
The operator also used the trading update to reveal that its pending acquisition by GVC should be completed by February 1, subject to the prior approval of the Court of Gibraltar.
bwin.party shareholders last month voted in favour of the merger, which was first announced in September.
Admission of the new GVC shares to trading on the London Stock Exchange is expected to take place on February 2.
source :www.igamingbusiness.com
