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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.Online gambling landscape:Revenue climbed 25.4 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.“We look forward to launching 32Red.Plain proposal:However, GVC Holdings explained that this annual damage could now grow to as much as ￡34 million ( million) should parliamentarians approve a plan from Prime Minister Boris Johnson that would oblige all of its over 3,000 retail establishments in England to close for a month from Thursday....
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.Online gambling landscape:Revenue climbed 25.it players the warm welcome they deserve,” according to the source....
ed to random closures of casinos and betting shops, which damages employment and revenues to the Exchequer.“We look forward to launching 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....
