GVC Holdings, one of the best known operators in the world, is re-branding itself as a new entity known as Entain. As part of the change, GVC Holdings will be exiting grey markets across the world. It’s a move aimed at bringing the company to a 100 percent regulated market strategy.
In a press release GVC Holdings/Entain CEO Shay Segev described the change saying “Under our new corporate identity, we will continue to use our unique technology platform to grow in both existing and new markets, innovate, 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.”
Segev also noted that by 2023 Entain, as it will be known, will be pulling 100 percent of its revenue from nationally regulated markets. By the end of 2020, 99 percent of its revenue will come from regulated markets.
The move from GVC Holdings, an extremely well know brand, to an entirely new entity called “Entain” came as a surprise to gambling industry watchers. But it does reflect the company’s serious attitude towards embracing regulated markets.
In a video interview quoted by Forbes.com, Segev gushed about the move saying, “It could not have gone better for us, and I believe for them as well. I’m very pleased with the results we’ve started to show and I think we’ll continue to show great progress.”
Entain seems focused on creating a sustainable business model that is completely divested of both black and gray markets.