The UK gambling giant GVC Holdings is set to rebrand and change its name to Entain. This is not the only serious change that is being planned by the company, which announced that it intends to withdraw from all unregulated gambling markets in an effort to make things right after the departure of its previous boss.
As shared by the current chief executive officer who took over the role in July 2020, Shay Segev, the announcement of the new strategy for sustainability, growth and innovation unveiled by the group marks a new chapter for the company. Mr Segev described the move as an important step forward, as GVC Holdings is aimed at becoming the world leader in gaming and sports betting services.
The new corporate identity of the gambling giant is also associated with the operator using its unique technology platform that will help it keep the strong momentum it has in the global markets and will provide it with the chance to expand to new markets and respectively, reach new customers. Provision of the player protection of the best quality and enhanced customer experience is also part of the process, as explained by the group’s boss.
Mr Segev shared that the company remains committed to pursuing the highest standards of corporate governance and is also willing to provide its staff members with various career development opportunities. It will also remain committed to supporting the communities across the UK while pursuing sustainability and growth.
The Gambling Company Will Pursue Further Expansion into Regulated Markets Worldwide
The group unveiled plans to keep its major brands and become more focused on expanding its presence in 50 or 60 regulated markets worldwide, including Mexico and the countries in Africa and Central Europe. The company’s boss confirmed that GVC Holdings is trying to boost its profitability in the shorter term but it will also keep its eyes on moving into other types of interactive entertainment.
The rebranding and the announcement of the new strategy of GVC Holdings come at a crucial time for the UK gambling sector. The latter has recently been under the increased scrutiny of gambling regulators and the Government that has been unveiling stricter measures for companies operating in the local gambling market.
Apart from the rebranding to Entain plc, GVC Holdings announced a commitment under which 100% of its revenue will be generated from regulated markets by the end of 2023. Apart from that, by the end of 2020, 99% of the group’s revenue is set to be generated by regulated and regulating markets. GVC Holdings will also pursue four key areas as targets that would guarantee significant growth – its core markets, the US markets, reaching new audiences and entering new markets.
The group also launched its Advanced Responsibility & Care programme that uses proprietary technology to guarantee the best customer protection through additional checks and enhanced interventions and monitoring. GVC Holdings explained that its responsible gambling metrics are to be incorporated into remuneration across its operations.
- Author
Olivia Cole
