GVC reported decent Q1 20 numbers, with total NGR growing by 2%, on a cc basis. More importantly, the firm now expects COVID-19 related EBITDA headwinds to halve to £50m/month, following the mitigation measures put in place. The firm has suspended the second interim dividend for FY19, in order to preserve liquidity. In spite of the mitigation measures put in place, we will be trimming our estimates, given the extended length of closures (we expect a minimum of six weeks).
07 Apr 2020
Decent Q1 20, well-placed to weather the COVID-19 storm
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Decent Q1 20, well-placed to weather the COVID-19 storm
Entain PLC (ENT:LON) | 814 -78.2 (-1.2%) | Mkt Cap: 5,202m
- Published:
07 Apr 2020 -
Author:
Virendra Chauhan -
Pages:
3
GVC reported decent Q1 20 numbers, with total NGR growing by 2%, on a cc basis. More importantly, the firm now expects COVID-19 related EBITDA headwinds to halve to £50m/month, following the mitigation measures put in place. The firm has suspended the second interim dividend for FY19, in order to preserve liquidity. In spite of the mitigation measures put in place, we will be trimming our estimates, given the extended length of closures (we expect a minimum of six weeks).