Gambling giant GVC has warned that it will lose £43m if all of its betting shops have to close due to the new coronavirus lockdown.
The Ladbrokes and Coral owner said that its forecasts took into account new government support schemes.
Under the new restrictions announced on Saturday, GVC will have to close all its stores in England on Thursday until 3 December.
Such closures will cost it an estimated £37m, the company warned today.
But if its whole bricks-and-mortar estate across the whole of the UK and Europe has to close, GVC warned it would leave a £43m hole in its finances.
“The well-being, safety and security of our colleagues and customers is of paramount importance to us”, it said in a statement.
“We are following government advice in each area of our operations and are enacting contingency plans to minimise the impact on the business.”
More to follow.