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Share Price: 88.60
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Bets and burgers: UK Plc profits from Euros but pubs miss out

Tue, 13th Jul 2021 13:14

* Gambling firms see record betting volumes during tournament

* Food delivery orders boom on match days

* Pubs miss out due to virus curbs, trade body says

By Muvija M

July 13 (Reuters) - England's run to the final of the Euro 2020 soccer tournament bolstered business for bookmakers and food delivery firms but pubs lamented a missed opportunity because of coronavirus curbs.

Bookmakers reported record-breaking bets being placed during the month-long tournament, while online food delivery firm Just Eat Takeaway.com saw orders peak at 2.5 per minute on match days in Britain.

But pub operators missed out on 9 million pounds in beer sales during Sunday's final because of pandemic curbs on capacity, the British Beer & Pub Association has estimated.

The final was the highest staking football match in Flutter's history "by a long way", the company told Reuters, with some 30 million pounds gambled across its Paddy Power, Sky Bet and Betfair platforms.

"England's performance has definitely played a role in spending patterns... We have never seen so much support for an England team before," a Flutter spokesperson said.

Rival Entain, which owns Ladbrokes and Coral, called the tournament its "biggest ever sports-betting event", estimating bets at about 250 million pounds.

A more online-focused company, 888, said its platform 888sport had seen more bets being placed on Sunday's England-Italy final than on any other sporting event, beating the record from last week's semi-final against Denmark.

"It wasn't the result England were hoping for but Italy were more popular in the betting on the match and were well backed to win the tournament throughout the month," Kieran Spellman, vice president and head of sports at 888, told Reuters.

England's men lost the final on penalties to Italy, dashing hopes of a first major title in 55 years.

Young & Co's Brewery - 245 of whose 273 pubs show sports - said limits on customer numbers and the requirement that all patrons sit at tables were hurting business.

"The opportunity was lost for our business due to heavy regulated COVID restrictions," a company spokesperson said.

Specialist sports bars and pubs were only catering to around a third of their usual crowd on Sunday, trade body UKHospitality said.

Food delivery firms enjoyed a surge in orders as people gathered in their homes instead to watch the matches.

Finals day fittingly had an Italian flavour -- orders of dessert Tiramisu saw an uplift in many countries, while pizza outsold burgers, according to Just Eat Takeaway. (Reporting by Muvija M in Bengaluru, writing by Sachin Ravikumar Editing by Keith Weir and Gareth Jones)

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30 Jan 2023 09:50

UPDATE: 888 CFO to stay longer as CEO leaves amid Middle East probe

(Alliance News) - 888 Holdings PLC on Monday said Chief Financial Officer Yariv Dafna will now stay in the post until the end of 2023, while the bookmaker's chief executive has left the company suddenly.

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30 Jan 2023 08:57

LONDON MARKET OPEN: 888 boss leaves, Middle East activities suspended

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30 Jan 2023 08:40

TOP NEWS: 888 CEO latest to step down amid Middle East VIP suspension

(Alliance News) - 888 Holdings PLC on Monday said its chief executive has left the company immediately, with online gaming operator also reporting it has suspended some activities in the Middle East amid a customer compliance probe.

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30 Jan 2023 07:57

888 suspends VIP activities in Middle East; CEO steps down

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27 Jan 2023 09:29

LONDON BROKER RATINGS: JPMorgan raises 888; Peel Hunt cuts Antofagasta

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17 Jan 2023 09:38

Berenberg lowers target price on 888 Holdings

(Sharecast News) - Analysts at Berenberg slashed their target price on bookmaker 888 Holdings from 320.0p to 220.0p on Tuesday, stating interest costs remained "a burden".

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13 Jan 2023 17:21

CORRECT: LONDON MARKET CLOSE: Stocks up as investors cheer UK GDP data

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13 Jan 2023 17:18

UK FTSE 100 at highest since May 2018, boosted by economic data

UK economy unexpectedly grew in November

*

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13 Jan 2023 17:12

LONDON MARKET CLOSE: Stocks higher as investors cheer UK GDP print

(Alliance News) - Stock prices in London closed near a record high on Friday after the UK economy defied expectations in November by recording marginal growth.

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13 Jan 2023 09:28

TOP NEWS: 888 revenue down despite World Cup boost; CFO to step down

(Alliance News) - 888 Holdings PLC on Friday said fourth-quarter revenue declined amid regulatory measures hitting its UK online segment, despite the football World Cup contributing to a "successful fourth quarter".

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13 Jan 2023 07:59

LONDON BRIEFING: World Cup boosts for UK GDP and ITV streaming

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19 Dec 2022 10:01

Deutsche Bank slightly lowers target price on 888 Holdings

(Sharecast News) - Analysts at Deutsche Bank slightly lowered their target price on gambling giant 888 Holdings from 160.0p to 150.0p on Monday after the group's recent Capital Market's Day "did as expected".

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(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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