Ladbrokes owner GVC cuts estimate for coronavirus profit damage
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(Reuters) - Ladbrokes and bwin owner GVC halved its estimate on Monday for a monthly hit to profits from the coronavirus-driven shutdown in international sports, sending shares in the company nearly 9% higher.GVC, which previously estimated it would lose 100 million pounds monthly in core profit (EBITDA), said it had managed to reduce that figure to 50 million pounds, and still hoped to find more savings.The gambling industry on the one hand is seeing a bump in online gaming by people stuck at..