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GVC sees 2017 core earnings at top end of its expectations

GVC Holdings sealed a deal to buy Ladbrokes Coral last month
GVC Holdings sealed a deal to buy Ladbrokes Coral last month

Online gambling firm GVC Holdings, which sealed a deal to buy Ladbrokes Coral last month, said it expects 2017 core earnings to be at the top end of its own expectations on strong trading in the fourth quarter. 

The company, which has expanded rapidly through acquisitions, said net gaming revenue for the fourth quarter rose 21% to €279.5m. 

Ladbrokes Coral, which dethroned William Hill as the UK's largest bookmaker after merging with Coral in 2016, said it expects full-year net gaming revenue to be around €1 billion. 

In December, GVC agreed to buy bookmaker Ladbrokes Coral for up to £4 billion. 

The deal will push it into British retail gambling through its acquisition of about 3,500 betting shops, making it the biggest player on the high street and competing with William Hill and Paddy Power Betfair.