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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
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Leisure, gaming and gambling

Bwin.Party has good fourth quarter before GVC takeover

Strong sport betting and casino trading fuelled higher sales

Gaming group Bwin.Party (LON:BWIN), which is merging with Sportingbet owner GVC Holdings (LON:GVC), said its sport betting and casino business drove higher sales.

Bwin revealed fourth quarter net revenue rose 5% on last year, with strong growth in mobile driven by further product improvements.

Excluding the impact of EU VAT, the underlying increase in net revenue was 8%.

Bwin said it had continued to make significant progress on cost-cutting, adding the planned takeover by GVC was due to complete on February 1 subject to regulatory approval in Gibraltar.

Underlying business fundamentals remained strong with further product enhancements, the Euro football championship and the full-year benefit of cost savings expected to drive growth in 2016.

A spokesman said: "The board believes the group's prospects are strong and these will be enhanced yet further by the proposed combination with GVC Holdings."

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