September 13, 2018 / 6:19 AM / 5 days ago

British gambling firm GVC sees more cost savings from Ladbrokes

Sept 13 (Reuters) - GVC Holdings Plc has identified 30 million pounds more in cost savings from its 4-billion-pound ($5.34 billion) acquisition of Ladbrokes Coral, the British gambling firm said on Thursday, while reporting higher first-half gaming revenue.

The savings are in addition to the 130 million pounds identified earlier, the company said, adding that it is “well placed to deliver those savings while driving top line growth”.

GVC said total group net gaming revenue rose 8 percent, on a proforma basis, in the six months ended June 30, with the biggest boost coming from online channels, where net gaming revenue rose 18 percent. (Reporting by Justin George Varghese and Muvija M in Bengaluru; Editing by Gopakumar Warrier and Sai Sachin Ravikumar)

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