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”The Kindred Group plc (KINDSDB:Stockholm) subsidiary will cease online operations in Italy from November 30, 2020, according to a statement on the website 32Red.The London-listed firm is responsible for the Ladbrokes and Coral-branded chains of retail sportbetting venues and used an official filing to detail that its annual earnings in the United Kingdom have already been hit to the tune of around ￡27 million ( million) owing to a raft of earlier temporary shutdowns initiated to help stop the spread of the potentially-lethal coronavirus pandemic....

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Kindred, which completed its ￡176. It moreover pronounced that this knock could swell by a further ￡9 million (.5 million) even if it takes advantage of ‘government support where available and other retail cost mitigation....

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Prominent iGaming and sportsbook operator GVC Holdings has advised investors that it may lose up to ￡7 million ( million) as a direct result of the proposed month-long coronavirus-related closure of its land-based venues in England.5 million (8.4 percent year-on-year in September in Italy’s regulated online gambling market, with significant growth in the core iGaming and sports betting verticals aiding the ascent....

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“We look forward to launching 32Red.4 percent year-on-year in September in Italy’s regulated online gambling market, with significant growth in the core iGaming and sports betting verticals aiding the ascent.”...

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it players the warm welcome they deserve,” according to the source.In 2011, Italy regulated its online gambling industry, opening its doors to foreign operators from December 2012.After launching in the EU member state some eight years ago, British online casino company 32Red will reportedly exit the Italian market at the end of the month....