The shareholders of GVC Holdings have voted and approved the relocation of the company’s headquarters and tax residence from the Isle of Man to the UK.
A total of 99.98% of GVC’s shareholders voted in favour of the move at an extraordinary general meeting that was held in Gibraltar during last week. More specifically, 481,464,490 votes were in support of the relocation plan, while 107,610 were against; with 5,744 withholding.
GVC, which is the owner of major bookmakers like Bwin, Sportingbet, Ladbrokes and Coral, announced last month that it was considering moving across to the UK; in order to increase its efficiency and reduce its costs, by allowing shareholder or Board meetings to be held within its biggest market.
The company currently has 582,739,946 ordinary shares of €0.01 ($0.011) each in issue and the same figure is representing the total amount of voting rights.
According to Jay Dossetter, GVC’s head of media relations, the relocation has to do only with the top holding company and it will have absolutely no impact on the staff or the operational side of the firm. Furthermore, he stated that the imminent move to the UK, will not have any impact neither on the tax bill or the effective tax rate that GVC pays. He also said that operationally, there won’t be any significant change, as the online business will continue to be run from Gibraltar, while the UK retail estate from the UK.
It is also worth mentioning that in a trading update that took place last month, GVC Holdings reported a 13% growth in online Net Gaming Revenue (NGR) for Q4 2019.
Why choose Bwin
- 50+ sports
- Cards & Corners
- Edit my bet
- Multiview feature
- Partial & Automatic Cashout
- 20+ payment methods
- Mobile apps
- Lots of interesting promos
No introduction is needed for Bwin. They were the first betting giants, being founded in 1999 when they came to the spotlight as Bet And Win. Since 2016, they have been under new ownership - Entain Plc - and have a clear white market strategy, acquiring domestic licenses in New Jersey, Sweden, Italy, Greece, France, and Spain. Bwin is regarded as a top-class bookmaker, but there are some massive pros and cons. The website is a little bit outdated, and the odds should be higher, especially at the top leagues. The absence of Asian bets and the slow withdrawal times are also a great minus. The same applies to the fast limitation on winning accounts, no matter if we are talking about a sharp or a recreational player. On the other hand, the live betting section comes with so many extra features, like Multiview and live streaming. The range of extra bets, both at the pre-match and live betting, sports and payment methods is huge and the mobile apps magnificent. No matter the disadvantages, Bwin will always be a safe place and a classic destination for the bettors.