India, April 8 -- Sports betting and gambling company GVC Holdings PLC (GVC.L) Monday said its first-quarter Group net gaming revenue or NGR increased 1 percent and Online NGR climbed 16 percent amid the COVID-19 crisis. At constant currency rates, Group NGR increased 2 percent and Online NGR climbed 19 percent.
In its trading update, the company said the closure of retail outlets and the cancellation of sports events significantly reduced revenue from mid-March. UK Retail like-for-like NGR fell 19 percent, and European Retail NGR dropped 3 percent.
The company said it now expects the impact of COVID-19 to reduce EBITDA by approximately 50 million pounds per month following the initiation of a number of mitigating actions.
Before any mit...