The following Standards are not likely to have a material impact on the Group's or Company's financial statements:
• IFRS 10 Consolidated Financial Statements
• IFRS 11 Joint arrangements
• IFRS 12 Disclosure of interest in other entities
• IAS 27 (Revised) Separate financial statements
• IAS 28 (Revised) Investments in associates and joint ventures
• IAS 32 (Revised) Financial instruments: Presentation
• IAS 36 (Revised) Impairment of assets
• IAS 39 (Revised) Financial instruments: Recognition and measurement
The Group has made two restatements in the period.
Net Gaming Revenue
Betting duties and similar taxes and charge-backs have been restated to be recognised as a 'Cost of Sale'. 'Net Gaming
Revenue' is now measured at the fair value of consideration received or receivable net of promotional bonuses only.
Technology costs relating to the provision of sports data have been restated from 'Cost of Sales' to 'Operating Costs', as it
is judged that they are more representative of the contractual commitment being expressed as expenditure as opposed to
cost of sales.
The comparative figures for the financial year ending 2012 have been restated as below for these restatements.
Original Restatements Restated
€000's €000's €000's
Revenue 59,596 729 60,325
Cost of sales (24,513) 664 (23,849)
Operating costs (22,049) (1,393) (23,442)
Operating profit 13,034 - 13,034
2. SEGMENTAL REPORTING
Management follows one business line with two operating segments, being Sports and Gaming segmenting the revenues.
These operating segments are monitored and strategic decisions are made on the basis of overall operating results.
Management also monitors revenue by geographic location of its customers, monitoring performance in Europe and Latin
2.1 Geographical Analysis
The Group's revenues and other income from external customers are divided into the following geographic areas:
Europe 146,458 49,472
Latin America and Emerging Markets 21,949 10,853
Total 168,407 60,325
The total non-current assets (other than financial instruments, investments accounted for using the equity method, deferred
tax assets and post-employment benefit assets) located in Europe is €146,381,000 (2012: €57,026,000) and the total located
in other regions is €8,387,000 (2012: €9,067,000).
The total deferred tax asset located in Europe is €nil (2012: €83,000). There are no deferred tax assets in other regions.
Revenues from external customers in the Group's domicile, Europe, as well as its major markets, Europe and Latin America,
have been identified on the basis of the customer's geographical location. Non-current assets are allocated based on their
physical location. The above table does not include discontinued operations, for which revenue and assets can be attributed
GVC HOLDINGS PLC ANNUAL REPORT 2013 37
NOTES TO THE FINANCIAL STATEMENTS