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Owner of Ladbrokes Coral bookmakers to lose £50 million a month in coronavirus pandemic
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The owner of bookmakers Ladbrokes Coral expects to lose £50 million a month as a result of the coronavirus pandemic. GVC Holdings is being impacted heavily by the cancellation of sporting events and the closure of retail outlets.
Saturday's Grand National, which leads to around £400 million in turnover across the industry, was the most recent high profile loss.
However, bookmakers still raised £2.6 million from bets for NHS Charities Group, which is putting its resources into fighting coronavirus.
GVC Holdings originally predicted a loss of around £100 million a month, resulting from the national health concern. But several mitigation opportunities, including the UK government grant towards employment costs and business rates relief,
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