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Prominent iGaming and sportsbook operator GVC Holdings has advised investors that it may lose up to ￡7 million ( million) as a direct result of the proposed month-long coronavirus-related closure of its land-based venues in England.The Kindred Group plc (KINDSDB:Stockholm) subsidiary will cease online operations in Italy from November 30, 2020, according to a statement on the website 32Red.After launching in the EU member state some eight years ago, British online casino company 32Red will reportedly exit the Italian market at the end of the month....
Kindred, which completed its ￡176.4 percent year-on-year in September in Italy’s regulated online gambling market, with significant growth in the core iGaming and sports betting verticals aiding the ascent.5 million) even if it takes advantage of ‘government support where available and other retail cost mitigation....
ed to random closures of casinos and betting shops, which damages employment and revenues to the Exchequer.Troubling tally:All in and GVC Holdings stated that coronavirus could eventually end up hitting its annual bottom line for retail in the United Kingdom and Europe by as much as ￡43 million (.it players the warm welcome they deserve,” according to the source....
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The London-listed firm is responsible for the Ladbrokes and Coral-branded chains of retail sportbetting venues and used an official filing to detail that its annual earnings in the United Kingdom have already been hit to the tune of around ￡27 million ( million) owing to a raft of earlier temporary shutdowns initiated to help stop the spread of the potentially-lethal coronavirus pandemic.4 percent year-on-year in September in Italy’s regulated online gambling market, with significant growth in the core iGaming and sports betting verticals aiding the ascent.Kindred, which completed its ￡176....
