GVC lands deal acquiring Portugal’s Bet.pt

9 Oct 2020

gvc bet ptGVC Group, owner of Ladbrokes and Coral, has put pen to paper on the acquisition of Portuguese online operator Bet.pt in an effort to expand its positioning in the European market.

Bet.pt has been one of the first Portuguese betting sites to obtain a betting license in Portugal back in 2016 and a casino license in 2017.

GVC officials said about the deal: “By leveraging our technology, extensive portfolio of gaming content, marketing and CRM capabilities, as well as growing the sports offering, we see plenty of opportunities to grow its profitability and market position”.

GVC’s chief executive, Shay Segev, also added: “This acquisition is consistent with our strategy of expanding into new markets that are either regulated or regulating, in order to support our international growth ambitions.”

The deal went public along with GVC’s third quarter results update, in which the operator saw a 12% year-on-year rise in its net gaming revenue until September 30. On another update on the company’s figures and yearly expectations; GVC stated that they expect their full-year net revenues in the U.S. to reach approximately $150 million to $160 million.

At the same time, their full 2020 yearly earnings -before interest and taxes- could reportedly reach a staggering £770 million to £790 million.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

After a week off due to national team fixtures the English Premier League returns to action, and what a better way to do start matchday 9 than with th...

Read more »

Gambling can be traced in Germany all the way back to Roman times when soldiers were playing several forms of dice games. At some point after the intr...

Read more »

The UK Gambling Commission fined online betting operator Betway £408,915 for marketing on the kids’ section of the West Ham United Football Club...

Read more »

The 2021 report from the Malta Gaming Authority (MGA) has been released. The MGA generally took less regulatory actions, such as issuing fewer warning...

Read more »

The 2022 European Cricket Championships, held in Malaga, Spain, now have Stake.com as an official partner. The T10 competition, in which 21 national t...

Read more »

Just one week after an impressive 49-goal matchday 1, UEFA Champions League action is back. Among all the exciting events, the one that stands out the...

Read more »

LeoVegas Group, the renowned igaming operator, disclosed on Thursday that English Premier League giants Manchester City is the subject of a new partne...

Read more »

The moment football fans worldwide have been waiting for has finally come. The 2022-23 UEFA Champions League season is officially underway with 8 matc...

Read more »

After expanding into Colorado, their second active US state so far, Bet365‘s presence in the North American market has grown. Bettors in the Cen...

Read more »

The 2022 summer transfer window ends on the night of September 1st. As the deadline day is rapidly coming close, top European clubs are looking to sea...

Read more »

LATEST BOOKMAKER PROMOTIONS