Gala Coral net revenue improves

ator Gala Coral has reported a 5% net revenue increase year-on-year to £684.8m for the 28 weeks ended 11 April.

The net revenue jump was supported by a 38% increase in online revenue to £123.3m.

Gross profit rose 5%, up to £492.4m, and EBITDA went up 10% to £135.4m.

Gala Coral CEO Carl Leaver said in a press release: “The first half saw a number of regulatory changes introduced: the higher rate of MGD came into effect at the start of March and new restrictions covering high stakes (>£50 on FOBTs) were implemented at the start of April. The impact on volumes in the first few weeks is in line with our expectations.”

Gala Coral also explained that “poor margins in the UK in Q2 (albeit to a lesser extent than in Q1) have increased the year-to-date adverse EBITDA impact to approximately £17m, broadly in line with the adverse impact in the prior year”.