# GVC Holdings store closures due to COVID-19 lockdown restrictions

- Link: https://www.directorstalkinterviews.com/gvc-holdings-store-closures-due-to-covid-19-lockdown-restrictions/412868793
- Published: 2020-11-02T07:57:06+00:00
- Author: Amilia Stone

**GVC Holdings PLC** (LON:GVC), the global sports betting and gaming group, has 
provided an update regarding the impact of enforced store closures across UK and
European retail as a result of further restrictions due to Covid-19.

The well-being, safety and security of our colleagues and customers is of paramount
importance to us.  We are following government advice in each area of our operations
and are enacting contingency plans to minimise the impact on the business.

Further restrictions have now been imposed in England, in addition to those already
in place across our wider UK Retail and European Retail operations^(1).  In order
to provide clarity on the impact of the enforced store closures on our retail operations,
we set out below the approximate impact on EBITDA as a result of a) current closures
for the required durations as notified as of today^(1), and b) the impact if all
retail stores were to be closed for a full month.  These estimates include the benefit
of government support where available and other retail cost mitigation.

|  | Estimated EBITDA impact of currently required retail closures | Estimated EBITDA impact if all retail outlets were required to be closed for a whole month | 
| UK Retail | £27m | £34m | 
| European Retail | £10m | £9m | 
| Total | £37m | £43m |

Notes:

_1.     Restrictions and guidelines on retail stores currently in place are: GVC
Holdings’ Stores in England will close from 5 November until 3 December (subject
to Parliamentary approval).  Stores in Scotland and Northern Ireland currently remain
open.  In Wales all stores are currently closed and are expected to re-open on 9
November.  In the Republic of Ireland all shops are expected to be closed until 
2 December.  In Italy all shops – but not corner outlets – are closed until 24 November.
In Belgium all stores are closed until 13 December._

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