25th Jul 2018 12:45
LONDON (Alliance News) - GVC Holdings PLC said Wednesday Capital Group Companies Inc doubled its stake in the gambling firm to 10% after a transaction on Monday.
Capital Group held 56.0 million shares in GVC after the transaction, equivalent to a 10.0% stake in the 578.1 million shares outstanding in the FTSE 100 firm. Prior to the buy, Capital Group held a 5.1% stake.
Last Wednesday, GVC reported second quarter group net gaming revenue was 11% higher and online net gaming revenue up 22% year-on-year helped by the FIFA World Cup in Russia.
Shares in GVC were 0.9% lower at 1,093.30 on Wednesday.
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GVC.L