GVC documents unregulated market withdrawal amid Entain rebrand

GVC Holdings has detailed an impending name change to Entain, as well as documenting a vow to withdraw from all unregulated markets, a renewed commitment to sustainability, new technology-driven customer protection, and four key pillars for growth.

Delivering a fresh corporate identity is designed to reflect the group’s ambition to be the world-leader in sports betting and gaming entertainment, and is subject to shareholder approval. The new identity intends to represent a new chapter for the organisation under a re-energised management team.

Shay Segev, GVC’s CEO, explained: “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.

“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. 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.”

Furthermore, the firm has also unveiled a renewed commitment to sustainability and growth, as it strives to abide by the mantra that “the most sustainable business in our industry will be the most successful”.

Outlining a strategic focus upon its new Sustainability Charter, the group is focused upon five cornerstones of delivering an exclusive focus on regulated markets, continuing to take the lead on responsible gambling, embedding responsible gambling into remuneration, pursuing the highest standards of corporate governance, and investing in our people and local communities.

Aiming to reduce EBITDA in 2021 by approximately $40m, the Entain Foundation is to also launch with a commitment of donating £100m over the next five years, including a new Pitching In programme that supports grassroots sports.

Moreover, the company has also outlined four strategic imperatives of leadership in the US, grothe across core markets, enter new markets and expand to new audiences, to increase scale over the next three to five years.