Following a comprehensive corporate review, online gambling behemoth GVC Holdings has decided to rebrand as ‘Entain’.
The firm, whose brands include PartyCasino, Gala, Casino King, Foxy Bingo and a raft of sports betting operators including Ladbrokes and Coral, have also pledged to make 100% of their revenue from locally regulated markets by the end of 2023.
The revelations came as part of a white paper released on Thursday that identified a number of ‘cornerstones’ for the company under the banner of sustainability, growth and innovation.
Player Welfare & Responsible Gaming
Those include the creation of their own Advanced Responsibility & Care (ARC) programme, which will increase the player protection measures that that the firm’s brands will implement.
Using their own proprietary technology, GVC will carry out additional checks on player welfare and seek to make more interventions where necessary.
In addition to their enhanced responsible gambling technology, the group has also launched the Entain Foundation to provide support in many of the jurisdictions in which they operate.
The project will donate £100 million to various causes over the next five years, including the ‘Pitching In’ programme which is aimed at increasing participation in grassroots sport.
From a corporate perspective, the paper identifies opportunities for growth in the U.S. market as a primary objective, and they have already made moves on that front by partnering up with MGM Resorts on the BetMGM brand. That is increasing in market share all the time.
Online Gaming and Esports Key to Growth
In addition to the United States, the strategy guide suggests that GVC will look to enter new, regulated markets where appropriate opportunities arise – typically through mergers and acquisitions, and both digital gaming and esports have been identified as potential areas for growth.
Exiting Unregulated Markets
As well as generating all of their income from regulated markets by 2023, GVC want to be at 99% of their revenue coming from authorised jurisdictions by the end of this year – as things stand, they are currently at 96%.
And in no uncertain terms, they have reiterated that they will leave markets where new regulation is not forthcoming.
Hitting Their Targets
Incidentally, the name change is still pending shareholder approval, and an extraordinary general meeting has been called for December 9 where votes will be cast remotely due to ongoing Covid-19 restrictions.
Reflecting on the proposed change of strategy, GVC’s CEO 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 build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection.
“Our clear strategy of prioritising sustainability and growth will allow us to achieve these goals, thereby providing long-term value for all of our stakeholders.”