GVC to change name and exit unregulated markets

Business News

GVC Holdings is to be renamed Entain plc to reflect the Group’s ambition to be the world-leader in sports betting and gaming entertainment

A commitment that, by the end of 2023, 100% of the Group’s revenue will come from markets that are nationally regulated. In addition, by the end of 2020, 99% will come from regulated and regulating markets

Launching the Advanced Responsibility & Care (“ARC”) programme, which uses proprietary technology to further enhance player protection through additional checks as well as improved monitoring and interventions

Responsible gambling metrics to be incorporated into remuneration across the Group. Launching the Entain Foundation to provide further support to the communities in which we operate.

Opportunities for significant growth in four key areas: the US market; our core markets; entering into new markets; and expanding to new audiences. A strong current trading performance, reflecting the continued growth within our core business.

Shay Segev, GVC’s CEO, commented: “Today marks an exciting new chapter for the Group, and an important step forward in achieving our ambition of being the world leader in sports betting and gaming.  Under our new corporate identity, we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection.

We are absolutely committed to pursuing the highest standards of corporate governance, to providing outstanding career development opportunities for our colleagues, and to supporting the communities in which we operate.  Our clear strategy of prioritising sustainability and growth will allow us to achieve these goals, thereby providing long-term value for all of our stakeholders.”

Over the past decade, GVC has been at the forefront of revolutionising the gambling sector through technology.  There are now products, platforms and ways of playing that would have been unimaginable when GVC was first incorporated in 2004.  The pace of change shows no sign of abating, and new trends are emerging in betting and gaming entertainment that are continually opening up new audiences, markets and opportunities that we are uniquely positioned to explore.  We will continue to revolutionise gambling to create the most exciting and trusted entertainment for every customer.

GVC is, at its heart, a technology-enabled entertainment business.  We own 100% of our technology, which has been the key driver behind our success in: entering new markets; expanding our organic opportunities; growing our range of products and services; adapting to regulatory changes; protecting our customers; enhancing the customer experience; integrating acquisitions; and growing ahead of the competition.

Today, 96% of our revenue comes from markets that are nationally regulated or regulating.  By the end of 2023, 100% of our revenues will be from regulated markets, which means that we are exiting markets in which there are currently no viable paths to regulation.  By the end of 2020, 99% of our revenue will be from nationally regulated or regulating markets, and we will work closely with regulatory authorities in the remaining 1% towards the highest regulatory standards.  If it becomes apparent that regulation in those markets is unlikely, we will exit them.