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Bookmaker GVC says German gambling regulations to hit profit

Oct 1 (Reuters) - British bookmaker GVC Holdings PLC said on Thursday it expected a roughly 70 million pound ($90 million) hit to its 2021 full-year profit from new gambling regulations in Germany such as deposit limits in poker and slot gaming.

GVC also said the regulations will lead to revenue declines across the German market, but will not materially change the company’s core profit expectations for the current year. ($1 = 0.7791 pounds) (Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Shinjini Ganguli)

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