GVC marks first day as Entain with Latin America launch

GVC Holdings has marked its first day of trading under Entain by gaining a license to operate in Colombia.

Last month it was announced that GVC would be renamed Entain to reflect the group’s ambition to be the world-leader in sports betting and gaming entertainment.

And on 9 December, its shareholders voted unanimously in favour of the rebrand with 99.96% backing the name change, and just 0.04% of shareholders against the motion.

During the first official day under the new brand, Entain announced it has become the first sports betting operator to gain a license in Latin America and expects to go live in Colombia within the next month.

The country is one of the first in Latin America to issue licenses, with Brazil preparing to follow suit. Entain also confirmed it will be applying for a license in Canada as the country moves ahead with regulation there.

The operator revealed BetMGM’s recent launch in Tennessee has been its most successful yet in the US, with the joint venture with MGM Resorts expected to be live in more than 20 states by the end of 2021.

Elsewhere, the operator confirmed it has pledged to invest £100m ($133.3m) over the next five years in the Entain Foundation to support responsible gaming initiatives in communities where it operates worldwide.

Entain CEO Shay Segev said: “We are firmly on track to take further leadership in the US as well as in many other newly regulated markets that are now opening around the world.

"At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era.”

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