GVC regains FTSE 100 blue-chip status

GVC Holdings has been readmitted into the FTSE 100 index of leading shares after a 15-month absence.

UK.- GVC Holdings, owners of Coral, Ladbrokes and bwin, has regained its blue-chip status, re-entering the London Stock Exchange’s FTSE 100 index of leading shares.

FTSE this week announced in the results of its quarterly rebalance that GVC Holdings would enter the FTSE 100 list of blue-chip shares along with AVAST (internet security), Homeserve (home repairs) and Kingfisher (home retail).

They replace Carnival Cruises, Centrica Energy, Easyjet and Meggitt (aerospace).

GVC briefly entered the FTSE 100 back in March 2018 after its acquisition of Ladbrokes Coral, but saw its share price fall after the UK government brought in a £2 limit on FOBTs machines, severely denting the value of Ladbrokes Coral’s retail operations.

It now joins competitor Flutter Entertainment as one of only two betting groups included in the list of top shares on the London Stock Exchange.

In May, GVC hinted at further acquisitions after completing its migration of its Ladbrokes Coral brands.