Home » GVC Holdings PLC Announces Rebranding, Becomes Entain plc

GVC Holdings PLC Announces Rebranding, Becomes Entain plc

by Staff
GVC Holdings Rebrands to Entain.jpg

GVC Holdings PLC, a British sports betting and igaming company, has announced today that it will be renamed Entain plc. The move underscores the Isle of Man-based company’s desire to be “the world-leader in sports betting and igaming entertainment” and is subject to shareholder approval.

The Isle of Man-based provider was founded in 2004 as GVC Holdings but recently made the decision to rebrand as Entain. This move comes as the London-listed corporation has announced numerous other changes to its future operations.

Currently, the business is looking to expand its operations, including a commitment to operate entirely in regulated markets by the end of 2023. Entain says that it plans for regulated markets to account for 99% of revenue by the end of this year. The group’s overall revenue is currently made up of roughly 96% of proceeds from regulated or regulating markets.

What Does the Operator Hope to Accomplish with the Rebrand?

A rebrand is normally done to reflect new goals or a change in direction from the company. In the case of Entain, the company plans on building its brand and expanding into new markets. The corporation listed four key areas of growth potential, claiming that they may greatly boost the group’s scale in the next three to five years. They include expanding into the fast-growing US market, expansion in other core areas, entry into new markets (including organic and M&A expansion into new regulated markets), and reaching new audiences.

Entain also formed a joint venture with MGM Resorts International in late July to take advantage of the sports betting and gaming opportunities in the United States. The BetMGM brand is now present in nine US states, with intentions to expand significantly by the end of 2021.

Chief Executive Officer for GVC, Shay Segev, had the following to say on the company’s new identity in an official press release:

“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 prioritizing sustainability and growth will allow us to achieve these goals, thereby providing long-term value for all of our stakeholders.”

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