Day: 15 August 2019

The owner of Ladbroke Coral and many other gambling websites, GVC Holdings, upgraded its forecast for full-year earnings today, after the strong performance of its online business helped it to compensate for losses resulting from stricter regulatory regime imposed on the UK gambling sector. GVC Holdings also revealed that the crackdown which the UK Government rolled out on the fixed-odds betting terminals (FOBTs) earlier this year did not hit the company’s performance as hard as expected. The company, which acquired its rival Ladbrokes Coral in a deal worth more than…

Casino and hospitality operator SkyCity Entertainment has recently posted its full-year results for the twelve months which ended on June 30th, 2019. The company reported a 14.7% decline in its annual net profit after tax from NZ169.5 million to NZ$144.6 million and came after the sale of the brand’s Darwin casino and a lower win rate registered in the company’s international business. The group normalised profit after tax rose by 1.9% and its EBITDA (earnings before interest, tax, depreciation and amortisation) increased by 1.3%. Despite the challenges faced by the…