GVC to rebrand as Entain and exit unregulated markets

GVC Holdings on Thursday announced a new corporate identity, a commitment to operating in 100% regulated markets, and new technology-driven protection for customers. 

The owner of Ladbrokes, Coral, bwin, Sportingbet, partypoker and BetMGM said it will be renamed as Entain plc, subject to shareholder approval.

"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," said Shay Segev, who took over as GVC CEO in July. "Under our new corporate identity, we will continue to use our unique technology platform to grow in both existing and new markets, innovate, 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," Segev added.

GVC launched Thursday a new Sustainability Charter aimed at raising standards in responsible gaming, committing to:  

• An exclusive focus on regulated markets: a commitment that, by the end of 2023, 100% of the Group's revenue will come from markets that are nationally regulated - with 99% from regulated or regulating markets by the end of 2020;
• Continuing to lead on responsible gambling: launching the Advanced Responsibility & Care (ARC) program, which uses proprietary technology to further enhance player protection through additional checks as well as improved monitoring and interventions;
• Embedding responsible gambling into its remuneration policy;
• Pursuing the highest standards of corporate governance;
• Investing in people and local communities with the launch of the Entain Foundation, which is committed to donating £100 million over the next five years to provide further support to the international communities in which GVC operates. In the UK this includes the company's new Pitching In program, to support grass roots sports and sports people.

GVC also outlined a range of growth opportunities that can "significantly increase the scale of the Group over the next three to five years."  These opportunities are based on four key drivers: leadership in the US through BetMGM; headroom for further growth in existing, core markets; significant opportunities for expansion into new regulated markets through organic opportunities as well as M&A; expansion to new audiences, via capturing new technology-enabled forms of entertainment that are constantly emerging. "For instance, eSports and digital gaming are becoming the hub for a rapidly growing audience out of which are evolving new betting markets, and we see significant potential for us in this area," GVC stated.