- Sports betting and gambling company Entain has officially launched by expanding its worldwide brand.
- The company GVC Holdings has rebranded as Entain, and announced they secured a license to operate in Columbia on Thursday.
BOGOTA, COLOMBIA – Worldwide sports betting and gaming giant GVC Holdings has officially rebranded as Entain, launching their services in a number of new locations including Latin America.
Entain marked its first day of trading Thursday, and secured a license to operate in the country of Colombia.
The move to change to Entain was announced last month and was a part of a larger plan to expand GVC Holdings into a larger international market. On December 9, GVC’s shareholders voted unanimously to change the brand to Entain, with 99.96% of holders backing the change.
The company wasted no time getting started, as Entain announced Thursday they would become the first licensed sports betting operator in Latin America by securing a deal in Colombia. The service is expected to be live by January.
Colombia is just the first country that Entain has reached out to, with Brazil expected to join the fold in 2021. Entain also mentioned that they would be applying for a license in Canada as sports betting laws continue to expand.
GVC Holdings has had a partnership with BetMGM in the United States where they recently launched sports betting services in Tennessee. This venture has become their most successful yet in the USA, with MGM Resorts planning to be in more than 20 states by 2022.
Entain also confirmed they will invest $133 million over the next five years into the “Entain Foundation” – a fund to support responsible gaming services in the regions to which Entain is expanding.
The CEO of Entain, Shay Segev, mentioned that progress with the company is right on schedule.
“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.”
Segev’s words echo a sentiment that has been popular throughout the worldwide expansion of sports betting and USA online gambling over the last few years. Entain is sure to be just one of many companies that is making major moves in the near future.