Shares in GVC Holdings gained nearly 4 per cent in London Wednesday following the formal enactment by the UK government of cuts to maximum stakes on fixed odds betting terminals (FOBTs).

The cut in stakes positively impacts GVC's £3.9bn acquisition of Ladbrokes Coral Group in March of this year, which included a contingent value right (CVR) which took into account the UK’s Triennial Review and its potential impact on FOBT stake levels.

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