As the coronavirus forces the cancellation of a string of sporting events around the world, it’s not just football and rugby fans that will be feeling the gloom.
The end of weekly fixtures and big-ticket tournaments will blow a hole in the profits of sports gaming companies as the punters have almost nothing to bet on. Worse still for those that operate high street bookmakers, a nationwide shutdown would make that hole wider still.
Among the casualties is GVC Holdings, the FTSE 250 gaming group that before covid-19 took hold was reporting a strong increase in gaming revenues during the early part of its new financial year. As with so many others, how badly it is hit depends on how long covid-19 lasts.
GVC Holdings