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The Kindred Group plc (KINDSDB:Stockholm) subsidiary will cease online operations in Italy from November 30, 2020, according to a statement on the website 32Red.Although it has yet to publish its third-quarter revenue, Kindred has posted an 8 percent hiProminent iGaming and sportsbook operator GVC Holdings has advised investors that it may lose up to ￡7 million ( million) as a direct result of the proposed month-long coronavirus-related closure of its land-based venues in England....
The London-listed firm is responsible for the Ladbrokes and Coral-branded chains of retail sportbetting venues and used an official filing to detail that its annual earnings in the United Kingdom have already been hit to the tune of around ￡27 million ( million) owing to a raft of earlier temporary shutdowns initiated to help stop the spread of the potentially-lethal coronavirus pandemic.Plain proposal:However, GVC Holdings explained that this annual damage could now grow to as much as ￡34 million ( million) should parliamentarians approve a plan from Prime Minister Boris Johnson that would oblige all of its over 3,000 retail establishments in England to close for a month from Thursday. We aim to continue in this regard as well as taking our first measured steps in entering the Italian market....
This controversial measure is set to be put to a vote on Wednesday afternoon and asks that all casinos and retail sportsbetting outlets in England be obliged to close their doors through to the end of December 2.5 million (8.5 million (8....
’Read the filing from GVC Holdings…“The well-being, safety and security of our colleagues and customers is of paramount importance to us.Forward looking:In a statement at the time, former Ladbrokes executive and founder and former Chief Executive Officer for 32Red, Edward Ware, said…“The continued growth in revenues, particularly in light of strong comparatives, is testament to the strong new player recruitment resulting from more investment in our main market, the UK.In 2011, Italy regulated its online gambling industry, opening its doors to foreign operators from December 2012....
The Kindred Group plc (KINDSDB:Stockholm) subsidiary will cease online operations in Italy from November 30, 2020, according to a statement on the website 32Red. It moreover pronounced that this knock could swell by a further ￡9 million (.Troubling tally:All in and GVC Holdings stated that coronavirus could eventually end up hitting its annual bottom line for retail in the United Kingdom and Europe by as much as ￡43 million (....
