Strong cash flows and future M&A potential leave us positive on e-gaming operator
Thursday 07 Sep 2017 Author: James Crux

Thursday 14 September

E-gaming operator GVC’s (GVC) half year results should be strong, with Berenberg looking for a 25% year-on-year EBITDA leap to €130m, driven by synergies from its bwin.party merger, operating leverage and supported by GVC’s enviable geographical diversification.

We share Berenberg’s positive stance on GVC, rumoured to have bid for Ladbrokes Coral (LCL), given its strong balance sheet and generous dividend policy, with potential for further M&A adding extra spice.

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