GVC Holdings PLC Disposal (8936F)
July 18 2019 - 1:00AM
UK Regulatory
TIDMGVC
RNS Number : 8936F
GVC Holdings PLC
18 July 2019
18 July 2019
GVC Holdings PLC
("GVC" or the "Group")
Disposal
GVC Holdings PLC (LSE: GVC), the global sports-betting and
gaming group, announces that it has reached agreement to dispose of
its 50% interest in Sportium Apuestas Deportivas S.A. ("Sportium")
to joint venture partner Cirsa S.A. for a consideration of EUR70m
payable in cash plus repayment of loans and distribution of excess
cash. The deal is conditional on regulatory approval.
The interest in Sportium derived from the acquisition of
Ladbrokes Coral in March 2018. Sportium is predominantly active in
the Spanish retail betting market and in the financial year ending
31 December 2018 contributed GBP2.5m to the Group's proforma
operating profit. As part of the disposal, GVC will become a B2B
supplier to Sportium.
Kenneth Alexander (CEO) said:
"GVC is one of the leading online gaming operators in Spain with
bwin and the disposal of our interest in Sportium enables us to
simplify our business in this market. We have enjoyed a good
working relationship with Cirsa and are pleased to be able to
support them through a new B2B partnership."
- ends -
LEI: 213800GNI3K45LQR8L28
Enquiries:
GVC Holdings PLC
Kenneth Alexander, Chief Executive Officer
Rob Wood, Chief Financial Officer
Paul Tymms, Director of Investor Relations & Corporate Communications (investors@gvc-plc.com)
Media enquiries:
Buchanan Communications
David Rydell/Jamie Hooper/Hannah Ratcliff Tel: +44 (0) 20 7466 5000
About GVC Holdings PLC
GVC Holdings PLC is one of the world's largest sports-betting
and gaming groups, operating both online and in the retail sector.
The Group owns a comprehensive portfolio of established brands;
Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes,
Neds and Sportingbet; Games Brands include CasinoClub, Foxy Bingo,
Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns
proprietary technology across all of its core product verticals and
in addition to its B2C operations provides services to a number of
third-party customers on a B2B basis. The Group has also entered
into a joint-venture with MGM Resorts to capitalise on the
sports-betting and gaming opportunity in the US. The Group,
incorporated in the Isle of Man, is a constituent of the FTSE 250
index and has licences in more than 20 countries, across five
continents.
For more information see the Group's website:
www.gvc-plc.com
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END
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