Home » GVC Raises its Annual Core Earnings Forecast for the Second Time
Sports Betting

GVC Raises its Annual Core Earnings Forecast for the Second Time

Ladbrokes-owner GVC expects full-year core earnings in the range of £670-680m, compared with the £650-670m range it provided in August. This will be the second time the company is raising its annual core earnings forecast in three months.

Bookmakers including GVC, Flutter Entertainment and William Hill have been targeting the rapidly growing U.S. market, which has expanded since sports betting regulation was liberalized. GVC said it had seen an excellent start to its BetMGM mobile app launched in September in New Jersey.

Since Britain companies put in place tighter regulations and cut the maximum stake allowed on high-speed slot machines to 2 pounds from 100 pounds, the British gambling companies are now targeting the rapidly growing U.S. market.

GVC is doing well as per the latest trading updates. The company is expected to appoint a new chairperson before the end of the year to replace Lee Feldman, who will step down to comply with the U.K. corporate governance code’s limits on tenure.

Source: https://europeangaming.eu/portal/latest-news/2019/10/11/56260/gvc-raises-profit-forecast-again/


About the author

Isaac Munga

Isaac Munga

I am a person with sound background in imparting knowledge. I enjoy the challenges of a busy and demanding work environment, self motivated and work under minimum supervision. I always seek the position of responsibility, professional development and growth opportunity.

Uphold the ethics of my profession by distinguishing myself with absolute integrity and striving to work within the confines of my employer’s policies and procedures. I use my education and experience to work towards improving human clause.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.