GVC Holdings defied a downturn in UK retail performance, which it put down to adverse weather, by increasing its overall net gaming revenue by seven per cent across the first 20 weeks of 2018.

GVC Holdings

A strong performance within the group’s European retail operation – up 28 per cent on a constant currency basis, helped by its Eurobet business – was complemented by online net gaming revenue rising by 18 per cent, again at constant currency.

That helped make up for bettor-unfriendly weather in the UK, which led to a like-for-like net gaming revenue fall of five per cent compared to the same period a year earlier.

GVC Holdings also stated that it has changed reporting currency to sterling, having previously reported in Euros.

GVC completed its acquisition of Ladbrokes Coral on March 28 and states that cost synergies have since been upgraded to at least £130m by 2021, up from the earlier forecast of £100m.