takeover of Ladbrokes Coral.<\/a><\/p>\nGVC issued a rosier trading update on Thursday, reporting online net gaming revenue had rocketed 28 per cent in Q3 compared to last year, driven by online sports betting and the soccer World Cup.<\/p>\n
However, despite the tournament and England\u2019s better than expected performance in it, like-for-like retail earnings in the UK were down 2 percent. Now the UK\u2019s largest land-based bookmaker, the company is more exposed than its competitors to losses in revenues that will occur when the government\u2019s fixed-odds betting terminal reforms come into play.<\/p>\n
Maximum stakes on the divisive machines are due to drop from \u00a3100 per spin to \u00a32 in 2020, but this week it was reported that Chancellor Philip Hammond would face an all-party revolt unless he expedited the reforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
The UK\u2019s biggest casino operator, The Rank Group, reported a slump in earnings as high-rollers ditched its Grosvenor Casinos chain in in the 16 weeks to October 14. In a trading update, the group blamed a reduction in handle — the volume of bets placed — as well as lower margins from high-spending customers for […]<\/p>\n","protected":false},"author":36,"featured_media":90909,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,19,18],"tags":[],"acf":[],"yoast_head":"\n
Rank Reports Grosvenor Casinos Slump, GVC Buoyed by World Cup<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n