{"id":155079,"date":"2020-11-12T07:08:47","date_gmt":"2020-11-12T15:08:47","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=155079"},"modified":"2020-11-12T09:14:42","modified_gmt":"2020-11-12T17:14:42","slug":"gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/","title":{"rendered":"GVC Holdings to Change Its Name to Entain and Exit All Gray Markets by 2023"},"content":{"rendered":"

Online gaming giant GVC Holdings<\/a> is changing its name to \u201cEntain.\u201d The operator announced Thursday that the rebrand was part of a new \u201csustainable growth strategy\u201d that would also see it exit all gray markets by 2023.<\/p>\n

\"Entain\"
CEO Shay Segev believes the new \u201cEntain\u201d brand (inset) will allow the company to grow in new and existing markets. (Image: Financial Times)<\/figcaption><\/figure>\n

GVC said that currently 96 percent of its revenues come from markets that are either nationally regulated or in the process of regulating. That number will reach 99 percent by the end of the year.<\/p>\n

\u201cGray markets\u201d are countries or states that have neither explicitly banned online gaming nor legalized it, and thus a lack of clearly defined laws offer ambiguity and a theoretical loophole. Historically, online gaming operators, including GVC, have thrived in gray markets. In fact, the general lack of regulation in the early days of online gaming meant this was the industry norm.<\/p>\n

New Markets<\/strong><\/h2>\n

Today, as more and more countries license and regulate, compliance has become the watchword for operators banking on long-term stability and growth.<\/p>\n

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,\u201d GVC CEO Shay Segev said in a statement.<\/p><\/blockquote>\n

GVC has been leading the charge in building a more socially responsible online gambling industry. That’s as the industry seeks to stave off the threat of tighter regulatory controls in its native UK and other jurisdictions.<\/p>\n

50 Shades of Gray<\/strong><\/h2>\n

But it was not always thus. Gray markets come in different shades, and GVC\u2019s Turkish business, which once accounted for a third of its revenues, was decidedly charcoal in hue.<\/p>\n

GVC offloaded its Turkish operations for free in 2017 in order avoid any potential regulatory hurdles to its $4 billion takeover of Ladbrokes Coral the following year.<\/p>\n

But to GVC\u2019s surprise, Turkey was a big sticking point with Nevada regulators. That came up when the company applied for licensing in the Silver State as part of its joint sports betting operation with MGM Resorts, BetMGM.<\/a><\/p>\n

The Nevada Gaming Control Board berated the operator for its use of shady cash-collection networks and payment processors to hide transactions from Turkish financial institutions. The regulator noted that some of these networks were stealing money from GVC, but there was little the company could do because it was engaging in questionable activity.<\/p>\n

GVC received a Nevada license, but only by the skin of its teeth.<\/p>\n

The company wants no more close shaves. It seeks to fulfill its stated goal of overtaking Flutter Entertainment as the leading sports betting operator in the US in partnership with MGM \u2013 one of its four \u201ckey drivers of growth\u201d set out in an official statement Thursday.<\/p>\n

The proposed rebranding to Entain is subject to shareholder approval.<\/p>\n","protected":false},"excerpt":{"rendered":"

Online gaming giant GVC Holdings is changing its name to \u201cEntain.\u201d The operator announced Thursday that the rebrand was part of a new \u201csustainable growth strategy\u201d that would also see it exit all gray markets by 2023. GVC said that currently 96 percent of its revenues come from markets that are either nationally regulated or […]<\/p>\n","protected":false},"author":36,"featured_media":155080,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,19],"tags":[],"acf":[],"yoast_head":"\nGVC Holdings to Change Its Name to Entain and Exit All Gray Markets<\/title>\n<meta name=\"description\" content=\"GVC Holdings is changing its name to Entain and has stated its goal to leave all unregulated markets within the next three years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GVC Holdings to Change Its Name to Entain and Exit All Gray Markets\" \/>\n<meta property=\"og:description\" content=\"GVC Holdings is changing its name to Entain and has stated its goal to leave all unregulated markets within the next three years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T15:08:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-12T17:14:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Shay-Segev-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1190\" \/>\n\t<meta property=\"og:image:height\" content=\"669\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/\",\"url\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/\",\"name\":\"GVC Holdings to Change Its Name to Entain and Exit All Gray Markets\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Shay-Segev-2.jpg\",\"datePublished\":\"2020-11-12T15:08:47+00:00\",\"dateModified\":\"2020-11-12T17:14:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"GVC Holdings is changing its name to Entain and has stated its goal to leave all unregulated markets within the next three years.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/gvc-holdings-to-change-its-name-to-entain-and-exit-all-gray-markets\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Shay-Segev-2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Shay-Segev-2.jpg\",\"width\":1190,\"height\":669,\"caption\":\"CEO Shay Segev believes the new \u201cEntain\u201d brand (inset) will allow the company to grow in new and existing markets. 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He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. 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