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GVC offloads Turkish-facing operations

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GVC offloads Turkish-facing operations

GVC Holdings has agreed a deal to sell its Turkish-facing operations to Ropso Malta Limited for a performance related earn-out consideration of up to €150m ($174.9m).

 

The agreement, which relates to GVC’s Headlong Limited business and various other companies, is subject to gaming regulatory and lender approval, although the firm expects this to take place before the end of the year.

The consideration is receivable on a monthly basis over a five-year period, while GVC and Ropso Malta have agreed that following completion of the transaction, transitional services arrangements will take place for no longer than six months.

In a statement, GVC said: “The decision to sell Headlong and associated businesses has been taken against a backdrop where, in an increasingly maturing and regulating online gaming world, the board has concluded it is now appropriate for GVC to further increase its focus on regulated markets.

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GVC expects the regulated and/or locally taxed proportion group NGR to rise to approximately 75% after completion of the sale, with these proceeds to be used for general corporate purposes.

The company added that its board believes the sale will boost the attractiveness of the group to investors and potential consolidation partners.

As the group evolves, our focus is increasingly on regulated markets and markets where we believe there is a realistic path to regulation.Today’s disposal is consistent with this strategy and enhances GVC’s position as a leading operator in a rapidly developing industry.” – said Kenneth Alexander, chief executive of GVC.

Analyst Simon French of Cenkos Securities added in a note: “Whilst clearly earnings dilutive this is a compelling strategic move resulting in a more regulated and attractive business, even better positioned to participate in sector M&A“.

It was reported by the FT earlier this month that GVC and Ladbrokes Coral were close to finalising a multibillion-pound merger.…

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The post GVC offloads Turkish-facing operations appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

BetConstruct

BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024

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BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.

As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.

Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.

BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.

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Amusnet

Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas

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Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.

“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.

Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.

Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.

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Canada

SoftGamings Doubles Down on Global Expansion by Introducing Tobique Gaming Licence

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SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.

Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.

The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.

SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.

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Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.

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