GVC sets out a clear strategy for sustainability, growth and innovation
LONDON, Nov. 12, 2020 /PRNewswire/ -- GVC Holdings PLC (LSE: GVC), the global sports-betting and gaming group whose brands include Ladbrokes, Coral, bwin, Sportingbet, partypoker and BetMGM, is today setting out ambitious plans for the future under its two core strategic pillars of sustainability and growth.
These plans will be driven by the Group's leading proprietary technology and supported by a range of strategic initiatives, launched today. They include a new corporate identity, a commitment to operating in 100% regulated markets, and new technology-driven protection for customers.
To reflect the Group's ambition to be the world leader in sports betting and gaming entertainment, GVC is today announcing that, subject to shareholder approval, it will be renamed as Entain plc.
"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, Chief Executive. "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."
Sustainability Charter Launched
The Group underpinned its commitment to raising standards in responsible gaming with the launch of a new Sustainability Charter today, 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") programme, which uses proprietary technology to further enhance player protection through additional checks as well as improved monitoring and interventions
- Embedding responsible gambling into our 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 we operate. In the UK this includes our new Pitching In programme, to support grass roots sports and sports people.
Growth: four key drivers
We have a range of exciting growth opportunities that can significantly increase the scale of the Group over the next three to five years. These opportunities are based on four strategic imperatives:
- Leadership in the US: we have a clear ambition to be the leading operator in the US through BetMGM, our joint venture with MGM Resorts.
- Grow our core markets: we have achieved a huge amount in our existing markets, but there is still substantial headroom for further growth.
- Enter new markets: we see significant opportunities for expansion into new regulated markets through organic opportunities as well as M&A.
- Expand to new audiences: new technology-enabled forms of entertainment are constantly emerging, and we intend to be at the forefront of capturing them. 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.
For further details, please visit: https://gvc-plc.com/news/
About GVC Holdings PLC
GVC Holdings PLC (LSE:GVC) is a FTSE100 company and is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGM Resorts to capitalise on the sports-betting and gaming opportunity in the US. The Group is tax resident in the UK with licenses in more than 20 countries, across five continents.
For more information see the Group's website: www.gvc-plc.com
SOURCE GVC Holdings plc
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