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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GVC Holdings PLC    GVC   IM00B5VQMV65

GVC HOLDINGS PLC

(GVC)
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GVC : EU investigates Ladbrokes right for virtual betting in Belgium

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09/02/2020 | 07:58am EDT
FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Manchester

EU antitrust authorities said on Wednesday they had begun an in-depth investigation into the right granted by Belgium to Ladbrokes to operate virtual betting in the country.

The European Commission, which oversees competition policy in the 27-member European Union, said it had opened the study after two rival gaming operators complained in March 2019 that Ladbrokes' exclusive right amounted to unfair state aid.

Ladbrokes is operated in Belgium by Derby SA, a subsidiary of GVC Holding PLC, and is the market leader with some 300 betting agencies in the country.

The Commission said Belgium authorised Ladbrokes to operate virtual betting in its outlets in February 2014 and online in March 2015, but then denied requests from other operators.

"The measure may have distorted competition and the Commission has doubts that it complies with EU state aid rules," the Commission said in a statement.

(Reporting by Philip Blenkinsop; editing by Marine Strauss and Jason Neely)


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Financials
Sales 2020 3 537 M 4 580 M 4 580 M
Net income 2020 106 M 138 M 138 M
Net Debt 2020 1 903 M 2 465 M 2 465 M
P/E ratio 2020 120x
Yield 2020 0,37%
Capitalization 5 652 M 7 323 M 7 320 M
EV / Sales 2020 2,14x
EV / Sales 2021 1,94x
Nbr of Employees 18 980
Free-Float 99,3%
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Mean consensus BUY
Number of Analysts 19
Average target price 1 237,40 GBX
Last Close Price 966,20 GBX
Spread / Highest target 52,7%
Spread / Average Target 28,1%
Spread / Lowest Target -6,85%
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Managers
NameTitle
Shay Segev Chief Executive Officer & Director
John Michael Barry Gibson Non-Executive Chairman
Sandeep Tiku Chief Operating Officer
Robert Matthew Wood Chief Financial Officer & Director
Stephen Morana Senior Independent Non-Executive Director
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