Share Name Share Symbol Market Type Share ISIN Share Description
Gvc Holdings Plc LSE:GVC London Ordinary Share IM00B5VQMV65 ORD EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +3.80p +0.66% 583.40p 583.00p 583.40p 588.80p 575.00p 578.40p 614,063 12:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 2,935.2 -18.9 -12.2 - 3,395

GVC Holdings PLC Disposal

18/07/2019 7:00am

UK Regulatory (RNS & others)


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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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 18, 2019 02:00 ET (06:00 GMT)

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