On October 8th, GVC Holdings published its financial results for the third quarter of 2020 in which they reflect that, despite the current global crisis, they continue to grow and have reasons to increase their expectations for the annual balance. In this regard, they announced that as part of their expansion strategy into new markets they have agreed to purchase Bet.pt, a leading company in the Portuguese sports betting and games market.
We share with our readers the content published by GVC Holdings about this purchase on its website:
We are announcing today that GVC has agreed to acquire Bet.pt in Portugal to extend our business across Iberia. Portugal is a recently regulated market and Bet.pt was one of the earliest entrants, obtaining its sports-betting license in 2016 and a casino license in 2017. The Portuguese sports-betting and gaming market is growing rapidly and is expected to more than double to around € 450m by 2023.
Bet.pt is one of the leading online gambling operators in Portugal with a particular strength in sports- betting. 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. 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.
On the other hand, Shay Segev, CEO of GVC, commented:
"The acquisition of Bet.pt that we are announcing today is consistent with our strategy of expanding into new markets that are either regulated or regulating, in order to support our international growth ambitions."
"While the risk of further restrictions as a result of COVID-19 mean that we remain captious on the short-term outlook, in the longer term we are confident of being able to continue delivering sustainable growth for all our stakeholders."
18+ | Juegoseguro.es – Jugarbien.es
