Interactive
UK – GVC rebrands to Entain as part of sustainability, growth and innovation strategy
By Lewis - 12 November 2020
GVC Holdings is to be renamed Entain to reflect the group’s ‘ambition to be the world-leader in sports betting and gaming entertainment’, subject to shareholder approval.
The rebrand comes as part of a range of targeted initiatives including a fresh corporate identity, a commitment to operating solely in regulated markets and new technology-driven customer protection.
The company has made a commitment that, by the end of 2023, 100 per cent of the group’s revenue will come from markets that are nationally regulated. In addition, by the end of 2020, 99 per cent will come from regulated and regulating markets.
GVC will also be launching an Advanced Responsibility & Care (“ARC”) programme, which uses proprietary technology to further enhance player protection through additional checks as well as improved monitoring and interventions.
Responsible gambling metrics are set to be incorporated into remuneration across the group alongside the launch of the Entain Foundation to provide further support to the communities in which it operates. The foundation will donate £100m over the next five years, including its new Pitching In programme that supports grass roots sports and sports people.
“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,” commented Shay Segev, GVC’s CEO.
“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.”
The actions set out in the strategy will reduce Ebitda in 2021 by circa £40m, but GVC has stated this is offset by the strong underlying growth in its business.
