Tag Archives: kenneth alexander

GVC and MGM activate $450m playbook for JV prospects

Shareholders of GVC Holdings and MGM Resorts have sanctioned a further funding round in joint-venture property ROAR Digital, increasing investment in the US market venture to $450 million. The funding is approved to accelerate ROAR’s flagship sportsbook property of BetMGM, which since its launch in 2018 is on track to operate in 11 US states by the end of year …

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GVC backs Lords ‘thoughtful and measured contribution’ to UK gambling’s future regime

GVC Holdings has welcomed the report published by the House of Lords Gambling Industry Committee, reiterating the measures that the operator group has already taken to ‘constantly improve player protection policies’. Published this morning, The House of Lords Gambling Select Committee’s report ‘Gambling Harm – Time for Action‘ calls for an overhaul of UK gambling, seeking to implement a ‘regime …

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Kenneth Alexander: Industry’s regulatory future is in-play as live sport resumes

GVC Holdings CEO Kenneth Alexander has issued a public statement to Parliament, as sportsbooks return to trading on the majority of major sports betting markets. Writing for Politics Home, Alexander emphasised that while a post-lockdown period brings with it an opportunity to promote a wide range of betting markets, gambling companies must not become ‘complacent’ in its responsible gambling measures. …

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Workforce wellbeing leads GVC Holdings retail reopening 

As it plans to reopen its retail betting venues on Monday 15 June, GVC Holdings has published its ‘comprehensive plan’ of actions and requirements to ensure safety standards across all Ladbrokes and Coral estates.  Leadership of the FTSE100 betting group stated that its reopening plan has been designed ‘to exceed the guidelines’ set by the UK government and World Health …

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GVC secures its Blue Chip status re-listing on FTSE100

GVC Holdings has completed a further leadership objective having been re-admitted onto the FTSE100 index, bolstering its status as a London blue-chip stock. On Wednesday, the FTSE Russell published its top 100-to-250 index report having reviewed all quarterly trading statements sanctioned by listed companies. The FTSE announced the inclusion of GVC Holdings, AVAST (IT security), Homeserve (emergency repairs) and Kingfisher (home retail) …

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GVC leadership takes 20% pay cut

FTSE250 GVC Holdings has confirmed that its executive committee members will take a 20% pay cut, while some staff have agreed to also forego bonus payments for 2020. GVC’s Board and remuneration committee stated that it ‘would be appropriate’ for both the Board of Directors and Executive Committee to take a voluntary reduction in basic salary and fees for three …

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GVC in ‘robust’ position after halving COVID losses to £50m a month

GVC Holdings has predicted that EBITDA could fall by £50m per month, a figure significantly smaller than the initial £100m predicted in March. The drop comes after the gambling group has continued to initiate a number of mitigating actions in light of the COVID-19 pandemic. GVC estimated the average monthly cash outflow would be limited to approximately £15m per month, …

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GVC promotes ‘proven talent’ Hurst to Group Corporate Affairs lead

GVC Holdings has this morning confirmed the promotion of Grainne Hurst to the position of Group Corporate Affairs Director, becoming a member of the FTSE250’s firm’s executive leadership team. Hurst has formerly served as GVC’s Director of Responsible Gambling, a position she held since the Group’s acquisition of the Ladbrokes Coral Group in March 2017, where she led the company’s …

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GVC ups responsible gambling measures to support BGC call of duty

GVC Holdings has underlined its support for the Betting and Gaming Council’s (BGC) ‘coordinated approach’ to provide consumers with the safest gambling environments during the current Covid-19 pandemic and beyond.  The FTSE250 betting group has emphasised the need for greater responsibility during a period in which a ‘quarter of the global population in some form of lock-down’. This could lead …

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GVC costs £150m in potential COVID-19 group impacts

GVC Holdings Plc has followed industry precedent by issuing a corporate update on  COVID-19 impacts, following the subsequent cancellation/postponement of major sporting events.   For the period of 1 January to 23 February 2020, GVC has underlined that trading for the year-to-date has remained strong, with group NGR at +5%, reporting a 16% increase in online gambling benefiting from strong sports …

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