LADBROKES owner GVC today upped profit forecasts thanks to strong trading over the summer as punters welcomed the return of live sport, even if the games were played in near empty stadiums.
It thinks full year profits will be between £770 million and £790 million, £50 million better than the City was expecting.
Today it announced a deal to buy Bet.pt, a gambling operator in Portugal. No price was given, suggesting the fee was low or possibly zero.
Like arch rival William Hill, GVC claimed strong momentum in America.
The shares open today at 1051p, at which price the business is valued at more than £6 billion.
Chief executive Shay Segev said: “This has been another strong period for GVC. We have delivered our nineteenth consecutive quarter of double-digit online growth, along with market share gains in all our major territories. The momentum that we are seeing across the group is a clear testament to the resilience of our highly diversified business model.”
In the UK, stores opened “as soon as permitted” offering a “safe, welcoming environment”.
GVC brands include Ladbrokes, Coral and Sportingbet.
