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MARKET REPORT: GVC's punt on digital gambling pays out

por Micah Fredericks (2019-09-26)


Think of gambling, and the image that comes to mind is probably casino high-rollers in dinner jackets or the High Street betting shop.

And, until a few years ago, many of the big betting firms would have agreed - underlining how long it took them to cotton on to the boom in online gaming.

But Ladbrokes Coral owner GVC has now seen the light, cemerlangpoker and its bet on digital gambling is paying off. 

Total internet revenues from Ladbrokes Coral brands like Foxy Bingo and Party Poker jumped 17% between January and June, helping offset a 10% fall in sales at High Street stores

Total internet revenues from brands such as Foxy Bingo and Party Poker jumped 17 per cent between January and June, helping offset a 10 per cent fall in the value of sales at High Street stores.

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Share Revenue from fixed-odds betting terminals slumped 39 per cent after the Government slashed the maximum stake customers can play with from £100 to £2. 

Total revenue from all its businesses rose 5 per cent in the first half.

The shares weren't quite so lucky and its stock closed down 1 per cent, or 6.2p, to 602.6p.