Payments provider EML Payments Ltd has announced a deal that will facilitate a new range of reloadable cards for gaming brands in Europe.
The firm has signed an agreement with GVC Holdings, a UK-based and listed company, via its European subsidiary, EML Payments Europe.
GVC is currently one of the world’s largest sports betting and gaming groups, operating in both the online and retail sectors.
The company and its subsidiaries own a comprehensive portfolio of established brands that serve betting clients in over 20 countries including Ladbrokes, bwin, Coral, Sportingbet, partypoker, PartyCasino and Gala.
A schedule to roll out EMLs reloadable winnings card to GVCs European brands is expected to be confirmed over the next 90 days. Given uncertainties in the pace of brand rollouts and of rate of adoption in new markets, EML is unable to accurately estimate future Gross Debit Volume (‘GDV’) that will be derived from this program.
The EML portfolio offers innovative payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. The firm manages more than 1100 programs across 19 countries in North America, Europe and Australia.
Signing the GVC program will have no earnings impact on EMLs financial year ending 30 June. The news helped EML shares move up 6.3%, to $1.50 per share, in early morning trading.