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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.In 2011, Italy regulated its online gambling industry, opening its doors to foreign operators from December 2012.Online gambling landscape:Revenue climbed 25....
it brand in the European country’s market.”Funds withdrawal deadline:According to a source, customers were advised by the operator to withdraw their funds by November 29 as the site would not be accessible to them after that date.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....
It was a diffonline gambling rubia qwtiicult choice to make.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.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....
6 million) should similar month-long shutdowns be implemented across its retail estates in Ireland, Italy and Belgium.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 stated that these included a complete nationwide closure that ran for twelve weeks from March 20 alongside subsequent regional lockdowns involving Wales and large tracts of the north of England....
We are following government advice in each area of our operations and are enacting contingency plans to minimize the impact on the business. The Swedish online gambling operator said Unibet would “guarantee 32Red.”Funds withdrawal deadline:According to a source, customers were advised by the operator to withdraw their funds by November 29 as the site would not be accessible to them after that date....
