, the parent company of Ladbrokes and Foxy Bingo, has said the proposed four-week lockdown in England could cost it £34million if the rest of the UK follows suit.

Bookmakers will be required to close all their stores in England between November 5 and December 2 under new controls announced on Saturday by Prime Minister Boris Johnson.

Many betting shops are already shut across the country though, and while its Scottish and Northern Irish stores remain open, its Welsh outlets are shut until November 9.

Betting on horse races and other sporting events will not be allowed in English betting shops from November 5 to December 2 under new coronavirus restrictions announced on Saturday

The firm stated that the total cost of these current constraints in the UK is £27million. The profits hit includes any offsetting from government support, such as the reintroduction of the Coronavirus Job Retention Scheme. 

Under the scheme, the public purse compensates employers for paying their workers 80 per cent of their usual salary up to £2,500 a month for hours they have not worked.

It had previously been due to end on Saturday.

GVC also estimates it is taking a £10million hit from restrictions in its European retail market, which covers countries like Belgium, the Republic of Ireland and Italy.

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All stores in the Republic of Ireland are forecast to remain closed until December 2, with Belgian establishments shut until December 13 and Italian shops not reopening for another three weeks.

'The well-being, safety and security of our colleagues and customers is of paramount importance to us,' declared the FTSE 100 firm.

'We are following government advice in each area of our operations and are enacting contingency plans to minimise the impact on the business.'

GVC also estimates it is taking a £10million hit from restrictions in its European retail market 

The group's announcement comes about a fortnight after William Hill warned that additional local lockdowns could cause core earnings to drop about £2million.

William Hill - American entertainment giant Caesars recently agreed to purchase the bookmaker for £2.9billion - stated that despite various restrictions, its trade had been good enough that it was returning £24.5million in furlough money to the government. 

GVC itself reported solid third-quarter results early last month, coming on the back of more customers turning to its online gaming brands, and it had a strong performance in Australia, where sales rose by almost two-thirds.

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