May 16, 2019 / 6:28 AM / 5 months ago

GVC Holdings sees lower earnings impact from betting price cap

May 16 (Reuters) - Ladbrokes-owner GVC Holdings Plc on Thursday pointed to a lower-than-expected impact from the new British gambling regulations that capped betting on certain machines at 2 pounds from April.

Britain’s largest high street bookmaker, ahead of its capital markets day, said the impact to core earnings would be 130 million pounds ($166.93 million)in 2020, lower than the earlier estimate of 145 million pounds.

GVC also said it will save a further 15 million pounds in 2020 as Ladbrokes online business integration has been quicker than anticipated.

$1 = 0.7788 pounds Reporting by Sangameswaran S in Bengaluru; Editing by Shounak Dasgupta

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