Ladbrokes owner Entain rejects £8bn MGM takeover bid January 4, 2021 The owner of British betting company Ladbrokes has rejected an £8bn takeover approach by US casino giant MGM. Entain, which also owns betting and gambling brands such as Coral, Bwin and Partypoker, confirmed the offer this morning but said it “significantly undervalues the company and its prospects”. It added that it had asked MGM to [...]
GVC warns that new lockdown could cost it £43m November 2, 2020 Gambling giant GVC has warned that it will lose £43m if all of its betting shops have to close due to the new coronavirus lockdown. The Ladbrokes and Coral owner said that its forecasts took into account new government support schemes. Under the new restrictions announced on Saturday, GVC will have to close all its [...]
Ladbrokes owner GVC raises full-year outlook as online gaming surges October 8, 2020 Ladbrokes owner GVC Holdings has raised its full-year outlook as revenue jumped 12 per cent in the third quarter helped by a surge in online gaming and sporting events.
Online growth offsets betting machine sales slump for Ladbrokes owner GVC January 17, 2020 Ladbrokes owner GVC Holdings this morning said full-year profit will be at the top end of guidance following strong growth in its online business. The betting firm said full-year earnings before tax, interest, depreciation and amortisation is expected to be at the top end of upgraded guidance of £670m to £680m. Online net gaming revenue [...]
Ladbrokes owner GVC upgrades earnings forecast October 9, 2019 GVC, the owner of Ladbrokes Coral, upgraded its full-year earnings guidance as the gambling giant reported an increase in over-the-counter trading following a government crack down on betting machines. The company increased its full-year guidance range to between £670m and £680m, from a previous estimate of £650m to £670m. Read more: GVC hit with £5.9m [...]
GVC lifts earnings forecast as it escapes impact of betting cap August 15, 2019 Ladbrokes Coral owner GVC has upgraded its full-year earnings forecast as it weathered the impact of a new regulatory cap on fixed-odds betting terminals. The figures GVC reported pre-tax profit of £212m for the first half of the year, up 31 per cent from 162.1m in the first half of 2018. Revenue at the gambling [...]
Cash out: Troubled Ladbrokes boss takes a punt on cutting pay in bid to stop investor revolt May 29, 2019 The chief exec of betting firm Ladbrokes is set to forego around £150,000 as he takes a gamble designed to quell shareholder unrest over his pay. Kenny Alexander, boss of Ladbrokes’ owner GVC Holdings, has agreed give up the majority of a recent pay rise from £750,000 to £950,000 after talks with the company’s board, [...]
Former Hbos chief executive set to take top job at The Restaurant Group May 1, 2019 The former chief executive of Hbos is set to be appointed chief executive at Wagamama-owner The Restaurant Group. Sky News reported that Andy Hornby had been given the job with his role expected to be announced as soon as tomorrow. Read more: The Restaurant Group profits fall as like-for-like sales slip Hornby has reportedly resigned [...]
British American Tobacco calls in headhunters as chairman prepares to step down April 9, 2019 The chairman of British American Tobacco (BAT) is set to step down as changes to financial regulations mean he can no longer serve on the board. Richard Burrows, who has chaired the firm since 2009, is the latest victim of new City rules meaning directors can no longer be considered independent after nine years. Read [...]
Ladbrokes-owner GVC increases gambling revenue in first quarter April 5, 2019 GVC said today that it had increased gambling revenue in the first quarter by eight per cent. In a trading update, the Ladbrokes-owner said online net-gaming revenue (NGR) increased 17 per cent, which it said included strong volume growth in all territories. Read more: GVC shares plunge as bosses offload majority of their holdings UK [...]