UK, Swedish Bookmakers Rebound As 888 Reports Minimal Virus Impact

  • Bookmakers recover in market rebound
  • UK greyhound and Irish horseracing cancelled
  • Swedish racing continues

UK bookmaker shares have regained some lost ground in an overall market rebound, as 888 Holdings predicted minimal damage from coronavirus-related sports cancellations.

888 stock gained 32 percent on Tuesday as the online gambling company said it expected an EBITDA impact of no more than $10m (€9.3m), less than a tenth of the damage predicted for some of its UK-listed rivals. 

Sports betting was only 16 percent of revenue last year, and average daily revenue is up 18 percent so far this year, the Gibraltar-based company said.

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