The UK has fined bookmakers firm owner GVC £5.9m (€6.4m), after its Ladbrokes unit failed to keep track of problem gamblers.

Flutter Entertainment - the holding company of betting firms Paddy Power and Betfair - is unlikely to play a part in an expected fresh wave of consolidation in the UK online gambling sector.

Any meaningful recovery in Paddy Power-Betfair’s share price is going to take time, analysts have warned, after shares in the betting services group fell further on a 12% slump in first-quarter profit.