March 16, 2020 / 2:47 PM / 14 days ago

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

A sign hangs outside a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson

(Reuters) - Ladbrokes owner GVC (GVC.L) 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 canceled 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.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli

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