March 16, 2020 / 2:43 PM / 23 days ago

GVC faces 130-150 mln pound earnings hit from sports cancellations

March 16 (Reuters) - Ladbrokes owner GVC said on Monday its full-year core earnings may be lowered by 130 million pounds to 150 million pounds, if all football and horse racing events get cancelled or postponed due to the coronavirus outbreak.

The gambling firm said core earnings will further reduce by about 45 million pounds to 50 million pounds ($61.21 million) per month, for the year ended Dec. 31, 2020, if all its shops in the UK are closed.

$1 = 0.8169 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli

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