Some major online gambling operators saw their share prices tumble on Monday after revealing the projected impact of the coronavirus crisis on their operations.

On Monday, online gambling operators Flutter Entertainment, GVC Holdings, The Stars Group (TSG) and William Hill all issued statements regarding the expected impact of the virus-related sports event interruptions on the companies’ operations.

Flutter got the ball rolling by noting that it generated 78% of 2019 revenue via sports betting, and thus any prolonged shutdown of sporting competitions will have “a material impact” on revenue and earnings. Flutter shares were down nearly 12% at the close of Monday’s trading.

Flutter estimated that should the current suspensions remain in place through August, which would necessitate the cancellation of the Euro 2020 football tournament, its earnings would fall between £90m and £110m. A further £30m hit would come if UK, Irish and Australian racing fixtures are cancelled and Flutter’s UK/Irish retail betting shops were ordered to close. Flutter’s underlying earnings totalled £385m in 2019.