We read about the online poker rooms run by PokerStars and bwin.party brands, but there is much that goes on behind the curtains as well.
For instance, you might think that both brands are competitors, but GVC is the company that owns these brands and they have announced that they would be passing out a dividend payout to the shareholders even though a payout was ruled out this year.
The firm released this news when a 10c per share as a special dividend was announced for the current financial year. It previously had declared that the company would be taking a dividend holiday this year as per the Cerberus loan terms that it is under. The good news is that the company is ready to pay off the loan by the beginning of February in the next year. As a result, it would be in a position to make the dividend payout as it would be taking on a Nomura debt instrument that would lighten its burden. Not only has GVC announced that it would be making the dividend payout in February but there are other beneficial changes being introduced as well.
For instance, the company would be distributing fifty percent of the free cash flow that is annualized and that would be split into forty and sixty percent in the two halves of the year. The company has also published an update on its trading operations. This is for the performance of the company in the third quarter. Here it is seen that the net gaming revenue has increased by twelve percent year on year and by fifteen percent as per present currency terms.
The revenue forecast as issued by GVC show a full year increased from 860 to 885 million Euros. The expectations of profit however remain unchanged.