GVC Holdings PLC (GVC), the global sports-betting and gaming group whose brands include Ladbrokes, Coral, bwin, Sportingbet, partypoker and BetMGM, has set out its plans for the future under its two core strategic pillars of sustainability and growth.
These plans will be driven by the firm’s proprietary technology and supported by a range of strategic initiatives. 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 a world leader in sports betting and gaming entertainment, and subject to shareholder approval, GVC will be renamed Entain plc.
GVC Chief Executive Shay Segev said: “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 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.”
The launch of a new Sustainability Charter is the group’s commitment to raising standards in responsible gaming. This will see an exclusive focus on regulated markets, a commitment that, by the end of 2023, 100% of its revenue will come from markets that are nationally regulated, with 99% from regulated or regulating markets by the end of 2020.
It will also launch the Advanced Responsibility & Care (ARC) programme to help with responsible gambling, which uses proprietary technology to further enhance player protection through additional checks as well as improved monitoring and interventions.
The group also plans to embed responsible gambling into its remuneration policy, pursuing the highest standards of corporate governance, and investing in people and local communities with the launch of the Entain Foundation.
This foundation will commit to donating £100m over the next five years to provide further support to the international communities in which it operates. In the UK, this includes the Pitching In programme, to support grassroots sports and sports people.
The group aims to increase the scale of itself over the next three to five years through four growth categories. These include becoming the leading operator in the US through BetMGM, its joint venture with MGM Resorts, further growth in its core markets, and expansion into new betting markets and audiences, such as esports and digital gaming.