GVC becomes Entain under rebrand and strategy shift
Entain plc, the global sports betting and gaming group previously known as GVC Holdings plc, marked its first day of trading under its new name with a range of new measures to deliver on the vision and direction recently outlined by its CEO Shay Segev.
The new measures extend across all of the countries in which it operates with brands including bwin, PartyPoker, Ladbrokes, Coral, FoxyBingo and BetMGM.
Last month Entain announced a new strategy to deliver significant growth, driven by expansion in the U.S., growth across its core business, entry into new markets and to new audiences. Entain, which has a very strong track record of 19 consecutive quarters of double-digit growth in its online business, also committed to lead responsible gaming with a new Sustainability Charter. Under this charter, the business pledged to focus only on regulated markets1 and use its proprietary technology to raise levels of player protection.
As part of these plans to deliver growth and sustainability, Entain today confirmed strong momentum and market share gains in the U.S. for BetMGM, its joint venture with MGM Resorts. Between October and January BetMGM is adding five new states, doubling its population reach in three months to around 75 million across 12 states. Entain also disclosed that BetMGM’s most recent state launch in Tennessee has been its most successful go-live yet with revenues already ahead of those in more established states. Powered by Entain technology, BetMGM expects to be in over 20 states by the end of 2021.
“We are firmly on track to take further leadership in the U.S. market, as well as in many other newly regulated markets that are now opening around the world.” said Segev. “At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era. In the U.S., we invested in creating the right building blocks for the BetMGM platform to grow and become a long-term leader in the U.S., with superior technology and capabilities, and this is now paying off.”