Ladbrokes Coral Owner GVC Rejoins FTSE 100

By Martin Green07 June 2020
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Ladbrokes Coral Owner GVC Rejoins FTSE 100

Ladbrokes owner GVC has been readmitted onto the FTSE 100 after the London Stock Exchange reviewed the quarterly trading statements issued by all listed companies. It means that GVC is back among the top 100 largest public traded companies in the UK. The bookmaker called it “a key landmark” in its story. Rival operator 888 was also included in the FTSE 250 for the first time following a strong period of growth. It enjoyed a 6% year-on-year revenue increase in 2019, and its gaming division has continued to flourish throughout the coronavirus pandemic.

GVC has fallen foul of the advertising watchdog for encouraging punters to “have another go” if their horse fails to finish. The complaint related to a Tweet sent by Coral, which is part of the GVC empire. It offered customers a free bet if their horse failed to finish a race. A complainant argued that this was irresponsible, as it encouraged repeat gambling, and the Advertising Standards Authority sided with the complainant. It told GVC not to run similar ads in future. GVC was subject to another complaint for a Ladbrokes ad that showed a man celebrating after filling up his car and getting the numbers to stop at £77.77. Another man said, “hit me”, as fillings were added to his sandwich, claiming he likes to “double down”. A complainant said this was portrayed gambling that “took precedence over the characters’ work or other daily activities”, but the ASA dismissed this complaint, accepting that it was merely a fun parody.

Bet365 has ended its telephone betting service after the number of customers using it dwindled. The overwhelming majority of punters now use its desktop site or mobile platform, meaning there was no need to maintain phone betting operations. Spokesperson Pat Cooney said tele-betting “had become such a minimal part of our business that it didn’t justify the staffing levels.” Cooney added that the firm had found new roles for all the staff that worked in the team. Bet365 received 20.9 million visits from UK customers in April 2020, leaving it well ahead of second placed Sky Bet, which had almost 16 million. Bet365 was also the clear market leader in Brazil and Chile. In Brazil, it recorded more than 10 times as many visits as its closest competitor, Sportingbet.

A punter placed a $1 million wager on Amanda Nunes to beat Felicia Spencer at UFC 250 in Las Vegas on Saturday night. The bettor took a price of 1/6, resulting in a payout of $166,666 after Nunes secured a dominant points victory over Spencer. The judges scored the contest 50-44, 50-44, 50-45, cementing the Brazilian’s status as the greatest female fighter of all time. “When she connected the first punch on me, I knew she would never knock me out,” said Nunes. “This fight, I wanted to go five rounds. I know if I had time I would finish her, but it's important for me to go five rounds. I'm tired of hearing, 'Amanda cannot go five rounds'. Stop that, everybody. I went five rounds with the toughest girl in the division and I'm not tired.” UFC will host further events in Saskatoon, Austin and Las Vegas in June.

Paddy Power is giving away £60 in free bets if you place a £10 wager on the 1.50pm race at Newmarket on Sunday. Bet £10 on the first race and you will receive a £10 free bet on each of the subsequent six races on the card. Coral is also giving a £10 free bet if your horse is beaten by a length on any ITV race at Newmarket. The 1000 Guineas takes place on Sunday, featuring the leading three-year-old fillies in the business.