Edition:
India

Ladbrokes-owner GVC Upgrades Annual Core Earnings Guidance


Wednesday, 9 Oct 2019 

Oct 9 (Reuters) - GVC Holdings PLC ::Q3 TRADING UPDATE.FULL YEAR EBITDA GUIDANCE UPGRADED.FULL YEAR PRE-IFRS16 EBITDA GUIDANCE RANGE UPGRADED TO £670M - £680M (FROM £650M - £670M).TRENDS IN UK RETAIL REMAIN AHEAD OF INITIAL GUIDANCE, WITH LIKE-FOR-LIKE NGR -18%, DRIVEN BY CUT IN B2 MAXIMUM STAKES TO £2.SUCCESSFUL REFINANCING OF EUR 1,125M DEBT.QTRLY CONTINUED STRONG GROWTH IN ONLINE WITH NGR +12%.CIRSA S.A. HAS RECEIVED REGULATORY CLEARANCE REGARDING THEIRACQUISITION OF GROUP'S 50% INTEREST IN SPORTIUM APUESTAS DEPORTIVAS S.A..ENCOURAGING START IN US FOLLOWING LAUNCH OF BETMGM MOBILE APP IN NEW JERSEY.TO GET EUR 73.7M IN CASH PLUS REPAYMENT OF LOANS AND DISTRIBUTION OF EXCESS CASH FOR SELLING 50% INTEREST IN SPORTIUM APUESTAS DEPORTIVAS.REALISTIC POSSIBILITY THAT REGULATORY POSITION WILL NOT BE RESOLVED UNTIL 2021 IN GERMANY.NO MATERIAL DEVELOPMENTS TO REGULATORY POSITION IN GERMANY SINCE GROUP'S H1 UPDATE ON 15 AUGUST.QTRLY TOTAL GROUP NGR UP 1%.SEARCH FOR CHAIRMAN IS WELL PROGRESSED AND BOARD EXPECTS TO MAKE ANNOUNCEMENT BEFORE END OF YEAR. 

Company Quote

862.8
12.8 +1.51%
21 Feb 2020