Home Business Insights & Advice How GVC (the company) is thriving in 2020

How GVC (the company) is thriving in 2020

by John Saunders
17th Sep 20 4:08 pm

In an incredibly congested marketplace, only the very best companies can dominate the online gambling world. GVC Holdings is that company. While that name may not mean much to you, we guarantee you have heard of some of GVC’s brands.

Their portfolio reads like a veritable who’s who of the online casino and sports betting world. Partypoker is widely recognised as one of the best online poker sites on the planet. With over 1,000 players playing in cash games every day and plenty more engaging in social games, it is always a fantastic choice when looking for your gaming fix.

GVC also owns Gala Bingo. Gala is the go-to site for online bingo and there are games to suit all players. The price of cards ranges from as little as a few pence to as much as a pound and jackpots of £1000+ are common.

Party Casino, Gala Casino and Casino King are just three of the dozens more iGaming platforms owned by the company. GVC also dominates the sports betting world.

Ladbrokes and Coral shops are absolute staples of the British high street and of course, both brands offer an incredible online sports market. The internationally revered sportsbook, Bwin, which used to sponsor La Liga  is similarly part of GVC’s portfolio.

At the start of 2020 GVC was already one of the biggest players in the game. As reported by PokerNews back in March, the company enjoyed a strong 2019. Their underlying earnings were £50m ahead of expectations, mainly due to incredible growth online. GVC’s performance was even more impressive, considering that the UK iGaming market actually shrunk in 2019. This is indicative of their strength as a company. Due to their impressive, varied portfolio of brands they are largely immune to negative market forces.

On the surface, you may think that the coronavirus crisis would have affected the companies’ profitability in recent times. However, for the most part, this has not been the case at all.

During the lockdown period, in which billions of people across the world were confined to their homes for up to two months, many turned to iGaming sites in order to relieve boredom. As GVC owns so many high-profile brands, it will be no surprise to hear that this helped the company vastly increase their player base.

Take PartyPoker for instance, the company’s flagship online poker brand. GVC claims that PartyPoker increased its revenue by a remarkable 60% during the first half of 2020, totalling £1.62 billion in net gaming revenue across all of its sites.

This explosion in online revenue has almost entirely covered the losses made when GVC’s in brick and mortar sportsbooks were forced to close during lockdown. In further good news for GVC, this 60% increase in revenue does not even cover July or August. During this time, many people were still confined to their homes. This means that GVC’s profits are set to increase even more over the rest of the year.

 

Please play responsibly. For more information and advice visit www.begambleaware.org

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