Share GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile August 25, 2020 Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling August 20, 2020 Share Related Articles GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Submit StumbleUpon Further to announcing its leadership change this morning, GVC Holdings has published a H1 post-close trading statement informing investors of the firm’s performance under challenging global conditions. Navigating COVID-19 complexities, GVC underlined that the company was robust and decisive in implementing cost management actions to ensure that the group achieved its objective of operating at a cash neutral position during the lockdown period.Trading under ‘extraordinary circumstances’ following the Q2 closure of its UK and European retail estates and the further postponement of global sports, GVC saw its group H1 NGR decline 11%. Despite its business operations being interrupted from mid-March, GVC highlighted the continued growth of its online gambling division, which saw NGR increase 19% during the H1 period.Online gambling’s robust performance was maintained by its diverse product inventory and geographic mix, said GVC, supporting the division’s performance during the sports lockdown.However, the post-close statement underlined the pandemic’s severe trading impact on GVC’s UK and European retail operations. The enforced closure of Ladbrokes Coral estates from mid-March saw UK retail like-for-like NGR decline by 86% during Q2 trading.GVC’s retail impacts were further compounded by the Q2 closure of its Belgium and Ireland estates down 90% during the period, as group retail NGR tracked at a -50% decline for the H1 period.Withstanding trading impacts, GVC pointed to a period of continued progress on key group directives, including Ladbrokes Coral brands being migrated onto GVC’s group technology platform. Furthermore, as reported this month, GVC and US partner MGM Resorts agreed to increase funding of its ROAR Digital joint-venture to $450 million, accelerating the development and prospects of its BetMGM property.Outgoing Group CEO Kenneth Alexander commented on performance: “All in all, our resilient performance through what has been a turbulent first half and the proven strength of our business model means that the Group can look forward to the future with confidence.” “It is a clear testament to the strength and diversification of our business model, the quality of our technology, the enduring appeal of our brands, and the talent, commitment and professionalism of our people. “We have worked hard to achieve our target of operating at cash neutral throughout the lockdown period, which has enabled the Group to retain the necessary financial strength to be able to take advantage of growth opportunities as and when they are presented to it. Our increased investment in BetMGM in the US is a case in point.”At present, GVC expects H1 group EBITDA to be in the range of £340-£350 million. It will publish its 2020 interim results on Thursday 13 August.
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Go back to the enewsletterJonathan Barthelmess, Owner & Chef of Sydney’s favourite restaurant, The Apollo, will head north to join forces with Matthew Kemp, Executive Chef, The Byron at Byron for a Mediterranean-inspired, rustic culinary collaboration.Jonathan Barthelmess from The ApolloFood lovers can choose to revel in an extravagant four-course Greek feast on Friday 10 August 2018 or stay the weekend and enjoy the perfect blend of intuitive service, impeccable detail and stunning natural surroundings at The Byron at Byron. A highlight of the weekend will be the Mediterranean share style feast with Barthelmess and Kemp using the most delicious produce the Northern Rivers has to offer.Signature Apollo dishes on the menu include the Taramasalata Mullet Roe Dip, Grilled Octopus, and White Chocolate Poached Rhubarb Honeycomb. The spectacular Greek Roast Lamb will be served with mulled wine allowing guests to indulge in the backdrop of the sub-tropical rainforest.Matching wines will be provided by St Hugo, with a St Hugo wine specialist in attendance to take guests on an exquisite wine journey over the course of the evening. The St Hugo Riesling V18 and St Hugo Shiraz V15 will be served throughout the evening.Matthew Kemp from The Byron at ByronBarthelmess is one of Australia’s most exciting chefs. He was greatly influenced by his mentors Stefano Manfredi and Janni Kyritsis, both masters of Mediterranean cooking in Australia.Now in its seventh year, The Apollo continues to excite the Sydney dining scene and was named ‘one of the world’s most exciting places to eat’ by restaurant critic Terry Durack.In 2016, Barthelmess opened The Apollo in the heart of Tokyo and he is currently planning to open a restaurant later this year in his hometown, under the Story Bridge on the edge of the Brisbane River.Early 2018, The Byron at Byron underwent a six-week transformation of the Resort restaurant, bar and central facilities in partnership with interior designers Luchetti Krelle and appointed acclaimed chef Matthew Kemp to lead the kitchen team.Event DetailsFEAST:Friday 10 August 2019, four-course feasting menu plus matching wines from St Hugo$140 per personTickets available via EventbriteACCOMMODATION SPECIAL:The Promo code “APOLLO” provides a 10% discount on all room types and packages available based on a minimum two-night stay between Thursday 9 August and Monday 13 August, 2018. Go back to the enewsletter