GVC secures its Blue Chip status re-listing on FTSE100
GVC Holdings completes a further leadership objective having been re-admitted onto the FTSE100 index, bolstering its status as a London blue-chip stock.
On Wednesday, the FTSE Russell published its top 100-to-250 index report having reviewed all quarterly trading statements sanctioned by listed companies.
The FTSE announced the inclusion of GVC Holdings, AVAST (IT security), Homeserve (emergency repairs) and Kingfisher (home retail) onto the top 100 index.
The four incumbents replace, Carnival Cruises, Centrica Energy, Easyjet and Meggitt (aerospace systems) as FTSE100 enterprises, following the quarterly rebalance.
GVC joins competitor Flutter Entertainment Plc as the only betting groups listed on the top bracket of the London Stock Exchange index.
The company had previously listed briefly as a FTSE100 enterprise following its acquisition of Ladbrokes Coral back in March 2018.
Despite GVC significant enlargement, the firm’s share price and value would be dented by the UK government announcing its £2 wagering limit on FOBTs machines, diminishing the value of Ladbrokes Coral’s retail estates.
Branding the firm’s FTSE100 re-inclusion as a ‘key landmark’, GVC governance stated confidence in the firm’s future prospects, having placed responsible gambling at the forefront of its corporate strategy – in which the company moves to expand its global profile within the US and further new regulated marketplaces.
Source: SBC News
