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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.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.”Funds withdrawal deadline:According to a source, customers were advised by the operator to withdraw their funds by November 29 as the site would not be accessible to them after that date....
” We are following government advice in each area of our operations and are enacting contingency plans to minimize the impact on the business.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....
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.it brand in the European country’s market. This controversial measure is set to be put to a vote on Wednesday afternoon and asks that all casinos and retail sportsbetting outlets in England be obliged to close their doors through to the end of December 2....
Troubling tally:All in and GVC Holdings stated that coronavirus could eventually end up hitting its annual bottom line for retail in the United Kingdom and Europe by as much as ￡43 million (.’Read the filing from GVC Holdings…“The well-being, safety and security of our colleagues and customers is of paramount importance to us.In 2011, Italy regulated its online gambling industry, opening its doors to foreign operators from December 2012....
This controversial measure is set to be put to a vote on Wednesday afternoon and asks that all casinos and retail sportsbetting outlets in England be obliged to close their doors through to the end of December 2.it players the warm welcome they deserve,” according to the source.Forward looking:In a statement at the time, former Ladbrokes executive and founder and former Chief Executive Officer for 32Red, Edward Ware, said…“The continued growth in revenues, particularly in light of strong comparatives, is testament to the strong new player recruitment resulting from more investment in our main market, the UK....
