EML PAYMENTS LIMITED (ASX: EML) has announced that for the provision of branded reloadable cards for their European online gaming brands, its wholly owned subsidiary EML Payments Europe Limited has entered into a multi-year agreement with GVC Holdings PLC (LSE: GVC) (“GVC”).
GVC operates in more than 20 regulated jurisdictions and owns more than 20 established B2C Gaming brands, with some of the gaming industry’s leading brands, including Ladbrokes, bwin, Coral, Sportingbet, partypoker, PartyCasino and Gala. Sporting wagers for their global online brands totaled in excess of GBP9 billion in the year ended 31 December 2017.
A schedule to roll out EML’s Reloadable winning cards to GVCs European brands is expected to be confirmed over the next 90 days. Given uncertainties in the pace of brand roll outs and of rate of adoption in new markets, EML is unable to accurately estimate future Gross Debit Volume (‘GDV’) that will be derived from this program.
EML has already provided guidance, and stated that signing the GVC program will have no earnings impact in the Financial Year ending 30 June 2018. Around the time of their AGM in November 2018, the company expects to provide earnings guidance for the Financial Year ending 30 June 2019. With this, the stock soared up by 6.4% on July 02, 2018, 3 pm AEST.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.