GVC has given up a six-figure pay rise in a desperate attempt to avoid an investor revolt at next week’s AGM.

Kenny Alexander, the chief executive of GVC Holdings, will forego most of a planned £200,000 salary increase.

Instead of boosting his £750,000 basic salary to £950,000, he will get £800,000 plus pensions, benefits and bonuses.

It comes amid growing City unrest over governance and performance. But critics have said it is a token gesture. 

Thanks to massive bonuses, Alexander took home £19.1million in 2018 and £18.3million the year before, bringing the total to just over £37million.