GVC Holdings will be renamed Entain plc, reflecting the group’s ambition to be the world-leader in sports betting and gaming entertainment.
Subject to shareholder approval, GVC will now operate under the new name of Entain plc, with the firm announcing several major changes to future operations.
The FTSE100 online gambling group is aiming to operate 100% across regulated markets by the end of 2023, with 99% of revenue to come from regulated markets by the end of 2020.
Entain will have player protection at the forefront of its operations through the launch of the Advanced Responsibility & Care (ARC) programme.
The firm will also launch the Entain Foundation, a fund committed to donating over £100m ($131.9m) in the next five years to local communities, grassroots sports initiatives and problem gambling research.
“Today marks an exciting new chapter for the group, and an important step forward in achieving our ambition of being the world leader in sports betting and gaming,” said GVC CEO Shay Segev.
“Under our new corporate identity, we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection.”