Tag Archives: kenneth alexander

GVC leadership takes 20% pay cut

FTSE250 GVC Holdings has confirmed that its executive committee members will take a 20% pay cut, while some staff have agreed to also forego bonus payments for 2020. GVC’s Board and remuneration committee stated that it ‘would be appropriate’ for both the Board of Directors and Executive Committee to take a voluntary reduction in basic salary and fees for three …

Read More »

GVC in ‘robust’ position after halving COVID losses to £50m a month

GVC Holdings has predicted that EBITDA could fall by £50m per month, a figure significantly smaller than the initial £100m predicted in March. The drop comes after the gambling group has continued to initiate a number of mitigating actions in light of the COVID-19 pandemic. GVC estimated the average monthly cash outflow would be limited to approximately £15m per month, …

Read More »

GVC promotes ‘proven talent’ Hurst to Group Corporate Affairs lead

GVC Holdings has this morning confirmed the promotion of Grainne Hurst to the position of Group Corporate Affairs Director, becoming a member of the FTSE250’s firm’s executive leadership team. Hurst has formerly served as GVC’s Director of Responsible Gambling, a position she held since the Group’s acquisition of the Ladbrokes Coral Group in March 2017, where she led the company’s …

Read More »

GVC ups responsible gambling measures to support BGC call of duty

GVC Holdings has underlined its support for the Betting and Gaming Council’s (BGC) ‘coordinated approach’ to provide consumers with the safest gambling environments during the current Covid-19 pandemic and beyond.  The FTSE250 betting group has emphasised the need for greater responsibility during a period in which a ‘quarter of the global population in some form of lock-down’. This could lead …

Read More »

GVC costs £150m in potential COVID-19 group impacts

GVC Holdings Plc has followed industry precedent by issuing a corporate update on  COVID-19 impacts, following the subsequent cancellation/postponement of major sporting events.   For the period of 1 January to 23 February 2020, GVC has underlined that trading for the year-to-date has remained strong, with group NGR at +5%, reporting a 16% increase in online gambling benefiting from strong sports …

Read More »

GVC’s stand-out online division offsets inevitable UK retail decline

Citing market share gains across all operating territories, FTSE250-listed GVC Holdings has backed its underlying corporate strategy to navigate regulatory complexities both home and abroad.  Publishing its full-year 2019 results, GVC has recorded a pro-forma net revenue increase of 3% to £3.65bn (FY2018: £3.57bn) driven by the strong growth of its online division and European retail portfolio.  Despite competing against …

Read More »

Gibson takes reign of GVC governance confronting new realities 

FTSE250-listed GVC Holdings has begun a new era of governance under the stewardship of Barry Gibson who will take up the role of Company Chairman. Updating its investors this morning, GVC detailed that Gibson had taken full control of Chairman responsibilities, ending incumbent Lee Feldman’s 12-year tenure leading the FTSE-listed firm’s corporate governance structures and oversight of leadership directives. Closing …

Read More »

UK betting leadership stands firm on collaborative approach despite media scepticism

Leaders of UK betting’s top five betting operators yesterday gave insights and opinions to the House of Lords Select Committee tasked with investigating the ‘Social and Economic Impact of the Gambling Industry’. Established in 2019, the Lords Committee continues its review of UK gambling seeking to gain valuable research and ‘reliable facts’ on unique industry factors and dynamics with for …

Read More »

GVC expects strong full year results following online growth

shareholders

Gambling group GVC Holdings expects its full-year results to show an ‘excellent’ operational and financial performance throughout 2019, as stated in the operator group’s post close trading update for the year to 31 December 2019. GVC reported that growth in its online division has led the way for what it believes to be a ‘successful 2020’. It revealed that net gaming revenue ‘remains strong’ …

Read More »

GVC hosts ‘research symposium’ on gambling addiction

FTSE betting group GVC Holdings is today hosting a ‘symposium on research into safer gambling’ showcasing the academic progress of its partnership with the Cambridge Health Alliance – a Harvard Medical School. A key directive of its ‘Changing for the Bettor’ social responsibility mandate at the start of 2019, GVC formed a $5.5 million multi-year partnership supporting Cambridge Health’s ‘Division of …

Read More »