GVC Holdings has completed yet another leadership objective that has been re-admitted to the FTSE100 index, strengthening its status as a blue-chip stock in London.
The FTSE Russell issued its top 100-to-250 index report on Wednesday, after reviewing all quarterly trading statements approved by listed companies.
The FTSE announced that GVC Holdings, AVAST (IT security), Homeserve (emergency repairs), and Kingfisher (home retail) would be included in the top 100 index.
The four incumbents, following the quarterly rebalance, replace Carnival Cruises, Centrica Energy, Easyjet, and Meggitt (aerospace systems) as FTSE100 enterprises.
As the only betting groups listed on the top bracket of the London Stock Exchange index, GVC joins competitor Flutter Entertainment Plc.
The company had previously briefly listed as a FTSE100 company after its March 2018 acquisition of Ladbrokes Coral.
Despite GVC’s significant expansion, the share price and value of the firm would be dented by the UK Government announcing its £ 2 wagering limit on FOBT machines, lowering the value of Ladbrokes Coral ‘s retail estates.
Branding the company’s FTSE100 re-inclusion as a ‘key landmark,’ GVC has expressed confidence in the company’s future prospects by placing responsible gambling at the forefront of its corporate strategy – in which the company is moving towards expanding its global profile in the US and further new regulated markets.