The gambling group behind Ladbrokes and Sportingbet was given a kicking by the stock market after a hit on trading from adverse sporting results and regulatory headwinds.

Entain, which also owns the Coral betting business, lost almost £700 million of its value as the company downgraded its full-year revenue guidance, sending the shares sliding by 108p, or 10.2 per cent, to 948p.

The warning is another setback for the company following its move in August to set aside £585 million to settle an investigation by HMRC into allegations of bribery in its former Turkish subsidiary.

Entain said that while online net gaming revenue since the summer had been mixed across the group, with robust retail trading and a strong performance in Croatia, in aggregate trading