GVC Holdings Divests Itself Of Turkish Operations

Published Thursday, November 02, 2017 - Online-Casinos.com
GVC Holdings Divests Itself Of Turkish Operations

A Maltese group that provides IT services for business done in Turkey by Isle of Man multinational sports betting and gaming group GVC has purchased its operations in that country. Ropso Malta Limited has acquired Headlong Limited and other associated businesses from GVC Holdings for an approximate worth of up to €150m.

The FTSE 250 London Exchange firm’s decision to divest itself of the Turkish enterprises is creating renewed interest in the future plans that GVC Holdings has been revealing in the past year. Acquisition and take over talks have been held with major gambling operators and deals discussed worth as much as £3.6bn. The selloff also signals a move towards approaching the regulated online gambling market in a realistic manner in order to actually have an acquisition approved by shareholders of a targeted company.

GVC’s chief executive officer Kenny Alexander, commented on the deal , “As the group evolves, our focus is increasingly on regulated markets and markets where we believe there is a realistic path to regulation.” The proposed agreement is subject to gaming regulatory and lender approval.  GVC Holdings does however expect the completion of the deal to happen before the end of 2017.

A prepared statement from GVC read,  “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.”

The sale of GVC’s interests in Turkey may create a better understanding of the political savvy required to maneuver in the online gambling industry. Going bigger in the internet betting business makes for a stronger less vulnerable business model and positioning is a massive part of any success. Companies that survive regulatory change are flexible and insightful and make the right moves before the cookie crumbles.

 

 

 

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