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GVC Q3 NGR Down 1%, Lifts FY EBITDA View

GVC Holdings PLC (GVC.L) reported that its third-quarter total group NGR declined 1%, or 2% in constant currency.

Online NGR was 12% ahead with strong growth in all territories. After adjusting for the impact of the World Cup4 in the prior year, Online NGR was 14% ahead.

In UK Retail, Like-for-like OTC NGR was 7% ahead of last year driven by the part-substitution of displaced machines revenues.

European Retail NGR was 4% behind last year. OTC NGR was 4% behind, with OTC margin down 0.6pp and OTC wagers down 1%.

The company now expects full year pre-IFRS16 EBITDA to be in the range of 670 million pounds - 680 million pounds, compared to the prior estimation of 650 million pounds - 670 million pounds.

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