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BUZZ-GVC Holdings: Hits record high after raising target for Ladbrokes synergies

Reuters - UK Focus

** British gambling company GVC Holdings (Frankfurt: 6GI.F - news) up c. 2 pct after rising >4.5 pct earlier in the day, stock hits record high

** Co sees higher cost synergies from acquisition of Ladbrokes Coral (LSE: LAD.L - news) -- synergies seen at 130 million pounds per year by 2021 vs previous forecast of 100 million pounds

** Posts double-digit growth rate in online gaming revenue, mostly helped by online channels revenue boost; evaluates opportunities to expand its US presence

** "A 30% upgrade this soon after the merger is a very positive sign of what is to come", Berenberg ("buy") says naming co its top pick in gaming

** Davy says momentum within the GVC legacy brands has improved