January 17, 2020 / 7:25 AM / a month ago

Ladbrokes-owner GVC sees FY profit at top end of guidance

Jan 17 (Reuters) - Ladbrokes-owner GVC said on Friday annual core earnings would be at the top end of its guidance, driven by stronger demand for online gambling.

The company, whose brands also include Coral, bwin and Foxy Bingo, said total annual group net gaming revenue was up 2%, but its UK retail like-for-like sales took a hit of 11% in the last quarter of the year, as Britain cut the maximum stake allowed on high-speed slot machines to 2 pounds ($2.62) from 100 pounds. ($1 = 0.7645 pounds) (Reporting by Indranil Sarkar and Tanishaa Nadkar in Bengaluru; Editing by Shailesh Kuber)

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