Ladbrokes owner GVC Holdings enjoys 'excellent' trading performance over 2019

The owner of Ladbrokes enjoyed 'excellent' trading last year
The owner of Ladbrokes enjoyed 'excellent' trading last year
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Ladbrokes owner GVC Holdings has hailed an "excellent" trading performance over 2019 despite a year of significant regulatory upheaval.

The betting giant said that earnings before tax and interest for the year to December 31 were at the top end of its expectations of between £670 million and £680 million.

Despite posting lower sales from its high street bookmakers, the firm said trends in its UK retail arm are currently performing ahead of its forecasts.

Kenneth Alexander, chief executive officer of GVC, said: "The group's operational and financial performance in 2019 has been excellent with the strong momentum reported at quarter three continuing throughout quarter four.

"The performance continues to be driven by our industry-leading technology, products, brands, marketing capability, people and local execution, all of which is underpinned by our determination to spearhead the industry's approach to responsible gaming.

"As the group continues to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports betting joint-venture in the US, the board is confident that the group is well-placed for a successful 2020."