Global sports betting and gaming group GVC Holdings has revealed that new restrictions on FOBT stakes has not had as big an impact on earnings as was expected.
Previous guidance concerning the new stake restrictions in the UK, which came into effect last month, was that GVC would sustain an adverse group EBITDA impact of £145m in 2020, reducing to £120m by 2022.
However, ahead of the group’s capital markets day, it stated that the expectation is now for an adverse impact of £130m and £105m respectively.
GVC Holdings CEO Kenneth Alexander said: “As we reported in our trading update last month, we have had an excellent start to the year with strong momentum across all divisions continuing into the second quarter.
“We are making great progress on the Ladbrokes Coral integration and we have a clear roadmap for delivery in the US, where it remains early days, but there is no doubt that this is a great long-term opportunity for GVC.”
