Following a shareholder vote, British sports gaming company GVC Holdings PLC has announced its rebranding to Entain. The move is a step towards achieving the group?s ambition to lead the global sportsbook and gaming industry, and it is also reflective of the firm?s new leadership and management team.
Sustainability Charter
Apart from the rebrand, the London-listed company revealed several major changes to its future operations. With their prediction that 99% of their revenue this year, up from 96% currently, will be coming from regulated markets, they intend to focus all their operational efforts on these markets by 2023. This would make the corporation more sustainable and profitable in the long run.
In addition, in the company?s move towards responsible gaming, they launched the Advanced Responsibility & Care programme, where proprietary-built technologies will be utilised to protect players through additional checks, improved monitoring, and necessary interventions. They are also committed to donating more than ?100 million (?116.64 million) in the next five years to support local communities and fund grassroots sports initiatives through the Entain Foundation.
Key Areas of Growth
Over the next three to five years, Entain also wants to increase their reach by partaking in four areas of growth.
First is the move towards competing in the fast-growing online sports and casino market in the US, aiming to revolutionise gaming in the area by providing richer and more exciting content. Another key area is maintaining their growth in the core-regulated markets worldwide, like Germany, France, and the UK.
Moreover, they also plan to tap regulated markets in Latin America, Africa, and European countries, where they foresee a ?450-million market in the coming years. Lastly, through their CEO Shay Segev, they are looking to expand to new audiences, with categories like esports, through partnerships and acquisitions.
A Global Portfolio of Brands
One of the largest gaming groups in the world, Entertain has a comprehensive portfolio of brands that it aims to develop through the four areas of growth.
Its portfolio includes a core group of sports brands like bwin, Sportingbet, and Ladbrokes & Coral. Meanwhile, gaming brands such as CasinoClub, PartyCasino, and Foxy Bingo were all built in the early 2000s. On this foundation, Foxy Games, a brand launched in 2015 as an extension to sister company Foxy Bingo, is also set to grow stronger with its range of fast-paced gaming experiences. This includes online slots, Slingo, and scratchcards ? all enriched with welcome bonuses, daily deals, and even mystery prizes.
In 2018, Entain ? then known as GVC ? entered a 50-50 partnership with MGM Resorts, allowing states to license and regulate sportsbooks and casino games. With Entain?s technology platform and MGM?s local US knowledge, BetMGM, a full-service online casino, was formed. Now, through this development, Segev sees Entain expanding into even more states like Pennsylvania, Iowa, and Michigan.
Fortunately, this partnership pays off, as the NFL?s Detroit Lions and the Las Vegas Raiders named BetMGM as one of their official partners. Just recently, the Professional Fighters League has also listed the online casino as its US Authorized Gaming Operator. In addition, BetMGM is the only mobile sportsbook app available at Nationals Park, being partnered with the Washington Nationals.
With the strategic moves laid ahead, these brands are set to experience worldwide growth.
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