GVC shares hit all-time high on double-digit online gaming revenue growth
Friday 25 de May 2018 / 14:03
⏱ 1 min read
(Isle of Man).- Gambling company GVC’s shares hit an all-time high this morning after it revealed that its revenue from online gambling had grown 18 per cent.
Shares climbed more than four per cent to 1,028p, before settling to 1,014p at the time of writing, still a three per cent increase.
GVC also forecast higher cost synergies from its £4bn acquisition of bookies Ladbrokes Coral.
It said it expected cost synergies from the deal to rise to £130m by 2021, having previously projected £100m in cost synergies.
However, GVC was not immune from the bad weather earlier this year after 12 per cent of planned horse races were cancelled.
t said this led to a five per cent drop in UK retail revenue with over-the-counter betting taking an eight per cent hit.
In its results for 2017 net gaming revenue grew 17 per cent to €925.6m (£825.1m).
There have been mixed fortunes for the gambling industry in recent weeks.
The UK government slashed the maximum stake for fixed odds betting terminals from £100 to £2 earlier this month after describing the machines as a "social blight".
The industry received better news from the US earlier this month after its Supreme Court struck down a law that made sports betting illegal, potentially opening a vast new market for gaming companies.
Categoría:Others
Tags: Sin tags
País: Isle of Man
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