Late last week, GVC Holdings announced that it was launching a new strategy as well as leaving unregulated markets.
The company, which owns Coral and Ladbrokes among other popular gambling brands, says that its future plans now come under two “core strategic pillars of sustainability and growth”.
Its name will also change as a result of its new direction, with GVC Holdings becoming Entain Plc.
The operator has, for a long time, aimed to be “the world leader in sports betting and gaming entertainment” and it, therefore, hopes that its ambitious new plans will help it succeed in achieving such status.
Entain aims to carry on expanding in both new and existing markets while simultaneously supporting communities, providing exciting career development opportunities for its staff, and achieving “the highest standards of corporate governance”.
One of the company’s key drivers for its growth strategy is to expand in the US market through its joint venture with MGM Resorts known as BetMGM. It has also identified a “rapidly growing audience” for digital gaming and eSports where it sees “significant potential”.
The launch of Entain’s Sustainability Charter commits the company to donating £100m over a five-year period to the communities in which it operates, including responsible gambling within its remuneration policy, and further enhancing player protection using extra checks and better monitoring and invention through its newly created Advanced Responsibility and Care program.
GVC Holdings will be holding an EGM (Extraordinary General Meeting) with its shareholders on 9th December 2020 in Gibraltar where it will invite votes on the proposed change of name and its new memorandum. However, due to current COVID-19 restrictions, stakeholders have been asked not to attend in person but instead appoint the Chairman of the EGM as their proxy.
GVC Holdings Plc owns a large portfolio of online and retail brands including Party Casino, Party Poker, Gala Bingo, Foxy Bingo, Ladbrokes, bwin, and Coral.