GVC warns of potential £43m profit hit from new Covid lockdowns

Gambling outfit GVC Holdings warned core earnings could fall by up to £43m as new coronavirus restrictions were imposed on its European shops.

The company on Monday forecast the impact on earnings before interest, taxes depreciation and amortisation (EBITDA) of current retail closures at £37m, and £43m if all outlets were shuttered for a month.

UK and European retail EBITDA was expected to suffer a hit of £34m and £9m if all outlets closed for a whole month.

Stores in England will close for until December 3 subject to a parliamentary vote on Wednesday. GVC said its shops in Scotland and Northern Ireland currently remain open while those in Wales all stores are currently closed and are expected to re-open on November 9.

In the Republic of Ireland all shops are expected to be closed until 2 December and in Italy all shops - but not corner outlets - are closed until 24 November. Belgian stores are closed until December 13.