SBC News Voice of the Sports Betting Industry
The Financial Times has revealed that GVC Holdings (GVC) has secured a premium listing on the London Stock Exchange, boosting the firm’s ambitions of breaking the FTSE-250 by the end of 2016.
The former London-AIM online betting operator had been granted approval to list on the London exchange in February following the completion of its £1.1 billion takeover of bwin.party Entertainment.
Updating the market, GVC Governance informed that the transfer from its standard listing to a new premium placement would take place on 1 August 2016. GVC governance expects to be eligible for inclusion in the UK FTSE Index Series by September 2016.
Last May the Financial Times labelled GVC Holdings as the online gambling industry’s ‘Dark Horse’, as the company hit a £2 billion corporate valuation, with its growth rate surpassing competitors 888 Holdings and Ladbrokes Plc.
The newly merged entity of GVC and bwin.party assets has begun 2016 strongly with the company announcing in Q2 2016 that it had agreed a 10-year interactive platform services agreement with Betfred, as GVC governance looks to extend its corporate services.
GVC’s ambitious CEO Kenneth Alexander has stated that the company will look to be the next gambling operator to break the FTSE 100
