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Betting company GVC reported a rise in profit as revenue increased by nearly a quarter amid a boost from the acquisition of Ladbrokes Coral.
For the year ended 31 December 2019, pre-tax profit rose 23% to £535m as revenue increased 23% to £3.6bn.
Reported net game revenue and revenue were boosted by the contribution of Ladbrokes Coral and underlying growth in all areas of the business except UK retail machines where revenues had declined following a cap on maximum stakes to £2 on betting machines.
Its UK retail business reported a 17% fall in operating profit.
'Trading in the year to date was strong with group net gaming revenue (NGR) up 5% and online NGR up 16%, both of which have benefitted from strong sports margins in the first two months' the company said.
At 10:00am: (LON:GVC) Gvc Holdings PLC share price was -25p at 782.6p