GVC Holdings PLC (LON:GVC), the global sports betting and gaming group, has provided an update regarding the impact of enforced store closures across UK and European retail as a result of further restrictions due to Covid-19.
The well-being, safety and security of our colleagues and customers is of paramount importance to us. We are following government advice in each area of our operations and are enacting contingency plans to minimise the impact on the business.
Further restrictions have now been imposed in England, in addition to those already in place across our wider UK Retail and European Retail operations1. In order to provide clarity on the impact of the enforced store closures on our retail operations, we set out below the approximate impact on EBITDA as a result of a) current closures for the required durations as notified as of today1, and b) the impact if all retail stores were to be closed for a full month. These estimates include the benefit of government support where available and other retail cost mitigation.
| Estimated EBITDA impact of currently required retail closures | Estimated EBITDA impact if all retail outlets were required to be closed for a whole month | |
| UK Retail | £27m | £34m |
| European Retail | £10m | £9m |
| Total | £37m | £43m |
Notes:
1. Restrictions and guidelines on retail stores currently in place are: GVC Holdings’ Stores in England will close from 5 November until 3 December (subject to Parliamentary approval). Stores in Scotland and Northern Ireland currently remain open. In Wales all stores are currently closed and are expected to re-open on 9 November. In the Republic of Ireland all shops are expected to be closed until 2 December. In Italy all shops – but not corner outlets – are closed until 24 November. In Belgium all stores are closed until 13 December.
