Strong partypoker Performance Helps GVC Holdings’ Revenue Soar
Shares in GVC Holdings, owners of partypoker, climbed to a 52-week high following an impressive Half Year financial report released on the London Stock Exchange.
Net Gaming Revenue increased by 25 percent to €486.2 million with adjusted profit before tax soaring 99 percent to €101.9 million for the six months ending on June 30, 2017.
One of the operational highlights was the performance of partypoker where net gaming revenue rose by 32 percent and the value of deposits increased by 48 percent. The statement to the London Stock Exchange explained a combination of factors were behind the impressive growth including product development, increased marketing, localised market focus and improve player experience.
According to the same statement, the third fiscal quarter of the current year has seen further acceleration in deposit value and net gaming revenue growth.
Speaking exclusively to UK & Ireland PokerNews, Managing Director of partypoker Tom Waters said, “The growth that we are seeing in partypoker now is the culmination of a lot of hard work by two great teams that are running partypoker and partypoker Live. Around 18 months ago we identified the major weaknesses in the partypoker business and we have been working hard, with the support of the players, to improve our product, promotions, reward scheme and customer support in order to close the gaps. I am delighted with recent developments and the support shown by existing and returning players and I’m looking forward to the release of further improvements over the next 12 months.”
partypoker has made wholesale changes to its product in recent months and they have been met with mostly positive feedback from players. From the launch of the partypoker LIVE tour, to the creation of a talented stable of players making up Team partypoker, a new loyalty program, overhauling the multi-table tournament schedule and the launch of the new “dark themed” software have all helped a resurgent partypoker to start returning to the dizzy heights of pre-Black Friday.
Shares in GVC Holdings climbed to 858.50 pence per share on Sep. 14, a year-long high for the group.
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