GVC Holdings Plc (GMVHY.PK,GMVHF.PK) has been awarded four sports-betting licences in Germany. The German regulator issued licences for the bwin, SportingBet, Ladbrokes and Gamebookers brands to offer sports-betting products. The licences have been issued with immediate effect. GVC is working with the regulator on an implementation plan with terms attached to the licences expected to be in place in the early part of 2021. Following implementation, the Group expects EBITDA will be reduced by up to 40 million pounds on an annualised basis.
Shay Segev, CEO of GVC, said: “The much-anticipated regulation of online gaming in Germany re-enforces GVC’s position as the most globally regulated and responsible operator in our industry.”
For comments and feedback contact: [email protected]