GVC shares soar on return to trading - Gaming Intelligence

An impressive post-close trading update from Coral and Ladbrokes owner GVC Holdings () showed net gaming revenues down only 10% and earnings sharply ahead of analysts’ expectations.. However, the good news was overshadowed by the abrupt departure of long-standing chief, Kenny Alexander, pushing the shares 4.5% lower to 873p. Shares in Ladbrokes and Coral owner GVC The company’s strong online presence with 57% of revenues coming from casino and games contributed to overall online growth of 19%, in spite of the absence of sporting events. UK retail like-for-like revenues fell 19% while European retail was flat. READ MORE ABOUT GVC HERE. Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account GVC shares hit an all-time record £11.75 on the London Stock Exchange, following on from the confirmation of the UK firm's partnership with MGM Resorts. The owner of Ladbrokes and Coral will pool their resources with MGM Resorts to supply the world’s largest regulated sports betting market, the US, as it opens. Via our unique proprietary technology platform, we offer sports betting, casino, poker and bingo online and operate some of the industry’s most iconic brands including Ladbrokes, Coral, BetMGM, bwin, Sportingbet, Eurobet, partypoker, partycasino, Gala and Foxy Bingo. In December 2020 we rebranded our Group from GVC Holdings, to reflect our ambition to be the world-leader in sports betting Keith Alexander has said he will not sell any more of his shares in GVC Holdings while he is chief executive of the gambling giant. Earlier this month, Alexander sold 2.06m shares worth £13.7m (€16.0m/$18.0m). Alongside Ladbrokes, GVC holdings owns Sportingbet, partycasino and the Foxy Bingo and Foxy Casino brands. It is listed on the London Stock Exchange and is a constituent of the FTSE-100 Index. The firm was founded back in 2004 in Luxembourg. GVC holdings shares (LON:GVC) are currently trading -15.86% as of 12:55PM (GMT), on the back of the news. US casino giant MGM Resorts is attempting to acquire the Entain Group, the new name for the recently rebranded GVC Holdings, according to the Wall Street Journal.. Entain operates several global gaming brands, including Ladbrokes, Coral, Bwin, PartyPoker , SportingBet, Gala Bingo, Eurobet and Betboo, but is already a partner with MGM in the burgeoning US sports betting and gaming market where Shares of this gambling company were up and down with a few drastic changes, which gave the ability to increase funds for smart investors. Login Casino continues widening the financial direction, now analyzing the situation with GVC stocks and trying to predict the future price of the firm's shares. Shares in GVC Holdings (LON:GVC) jumped 52.97p to 1,147.97p (as at 11:18 BST) as it announced a 50-50 joint venture with Las Vegas casino giant MGM Resorts International to capitalise on the new sports betting laws in the US.. The pair will each invest $100 million into the new JV and said its formation would significantly increase the speed to market for both parties, lower execution risk and GVC shares soar on return to trading

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